Affordable unit, eligible home-owner, and eligible landlord are defined
What the document says“The term ``affordable unit'' means a unit for which the monthly rental payment is not more than 30 percent of the gross income of an individual earning at or below 80 percent of the area median income, as defined by the Secretary.”
The section defines an affordable unit by a rent test tied to 80 percent of area median income. An eligible home-owner is one whose household income is no more than 80 percent of area median income or who qualifies for Medicaid, the State Children's Health Insurance Program, supplemental security income, food assistance, or temporary assistance for needy families, and who owns and lives in the home. An eligible landlord owns fewer than 10 rental properties, mostly affordable units and no more than 25 units in all, and agrees to the loan terms in subsection (b)(3).
What the document actually says“The term ``affordable unit'' means a unit for which the monthly rental payment is not more than 30 percent of the gross income of an individual earning at or below 80 percent of the area median income, as defined by the Secretary.”
A unit counts as affordable by a rent test. Rent must be 30 percent or less of what a person earns. That person earns 80 percent of the middle income for the area, or less.
The middle income where a person lives is the yardstick. Many housing rules use it. The housing agency sets the number for each area.
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