About
Affordable Housing
Affordable
Housing
There
are many competing definitions of affordable housing. The National
Affordable Housing Consortium uses the definition developed by the
National Affordable Housing Summit Group*.
“Affordable
Housing is housing which is reasonably adequate in standard and
location for lower or middle income households and does not cost so
much that a household is unlikely to be able to meet other basic needs
on a sustainable basis”
*
The Summit Group consists of the: Housing
Industry Association, Australian Council of Trades Unions, Australian
Council of Social Services, The Community Housing Federation of
Australia and National Shelter.
Other
definitions use a benchmarking approach. For example,
that housing costs should be less then 30 per cent of gross household
income. This is a generally useful guide for households in the lowest
40 per cent of incomes.
However
affordability is not simply a matter of housing costs. A well located
dwelling might save significant household travel costs and therefore
improve overall family economics, even if the rent is higher than a
dwelling in a poorer location.
