Muskoka Housing Task Force 101: Affordable vs. Attainable - What is the Difference?
Generally, when we refer to affordable housing, we are referring to housing that costs less than 30% of a household’s income before tax.
For example, if a household earns $60,000 a year before tax, that household should spend less than $18,000 a year (or $1,500 a month) on total housing costs for the housing to be considered affordable.
Affordability is only one piece of the puzzle, and that is why the Muskoka Housing Task Force is focused on attainable housing opportunities.
Attainable housing refers to housing that is Adequate in condition (no major repairs needed) Appropriate in size (bedrooms appropriate for household) Affordable (costing less than 30% of before-tax income) Accessible to Services (located in areas where common services are available) and Available (a range of housing types).
The more pieces missing, the more unstable housing becomes.