| Characteristic | Affordable units | Market rate units |
|---|---|---|
| - | - | - |
| - | - | - |
| - | - | - |
| - | - | - |
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April 2024
United States (California)
2020 to 2023
Affordable units include 100% affordable units, inclusionary units, and units built as accessory dwelling units.
Affordable housing by definition is housing that is either rented or owned at prices affordable to households with low to moderate incomes.
Market rate: Units at prevailing prices without any affordability requirements. Market rate units generally exceed rental or ownership affordability levels, although some small market rate units may be priced at levels that are affordable to moderate income households.
Affordable rental unit: A unit for which rent equals 30% of the income of a household with an income at or below 80% of the HUD median income for the San Francisco HFMA, utilities included.
Affordable ownership unit: A unit for which the mortgage payments, PMI (principal mortgage insurance), property taxes, homeowners dues, and insurance equal 33% of the gross monthly income of a household earning between 80% and 120% of the San Francisco HFMA median income (assuming a 10% down payment and a 30-year 8% fixed rate loan).
