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| | Affordable Housing |
 | | The U.S. Department of Housing and Urban Development (HUD) defines housing affordability for a household as paying no more than 30 percent of the annual income for housing-related costs. |
 | | Alternatively, if this same family were to spend their housing budget on mortgage, property tax, and home insurance, (excluding utilities and maintenance costs), it would be able to afford a $250,000 home, assuming the full 20% ($50,000) downpayment. |
 | | Clearly, families with higher incomes have greater flexibility in their housing options, while families with lower incomes have limited choices and/or are overburdened with housing costs. |
| cityofsitka.com /housing/index.html (229 words) |
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