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8/9/2017 <br />1 <br />Affordable Housing Discussion <br />Stacie Kvilvang -Ehlers <br />1 <br />What is Defined as Affordable? <br />2 <br />HUD Income Definitions: <br />•Low Income –Household income at or below 80%of area median income (AMI) <br />•Low to Very Low Income –Household income at or below 60%of AMI <br />•Very Low Income –Household income at or below 50%of AMI <br />•Extremely Low Income –Household income at or below 30%of AMI <br /># of Persons 30%50%60%80% <br />1 $18,990 $31,650 $37,980 $47,600 <br />2 $21,720 $36,200 $43,440 $54,400 <br />3 $24,420 $40,700 $48,840 $61,200 <br />4 $27,120 $45,200 $54,240 $68,000 <br />Income Limits By Household Size