Definition
Affordable housing communities provide housing for low-to-moderate income residents using subsidies, restrictions, or nonprofit ownership. Deed restrictions limit resale prices maintaining permanent affordability.
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Affordable housing communities house low-to-moderate income residents using subsidies, restrictions, or nonprofit ownership. Deed restrictions limit future resale prices to maintain affordability. Public and nonprofit agencies often develop and manage. Tax credits and subsidies fund development. Residents benefit from permanent affordable housing. Communities promote stability and opportunity. Resale of restricted units has reduced appreciation but permanent affordability. Appeal to socially conscious investors. Communities require stable nonprofits for long-term success.
Pro Tip
Understand deed restrictions and long-term affordability requirements before purchasing.
Example
An affordable housing community provided permanent below-market housing for teachers and service workers.