housing affordability analysis

Housing affordability analysis evaluates whether households can reasonably afford to buy or rent homes without financial strain. It typically compares housing costs—like mortgage payments or rent—to household income, often using guidelines such as spending no more than 30% of income on housing. The analysis considers factors like local housing prices, income levels, and market conditions to identify areas where housing is affordable or unaffordable. This helps policymakers, developers, and individuals make informed decisions to promote economic stability, equitable access, and sustainable community growth.