affordability

Affordability refers to whether individuals or households have enough income or resources to comfortably pay for something, like housing, healthcare, or education, without financial strain. It considers the cost of the item or service in relation to one’s income, ensuring that spending doesn’t compromise other essentials or lead to debt. Essentially, an affordable option balances its price with what people earn, allowing them to meet their needs without hardship or sacrificing their financial well-being.