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What is affordable housing?
What is affordable housing?
The definition of affordable housing varies depending on the person. What may be affordable to one person could be way outside of another person's budget.
In general, housing is considered affordable if monthly payments are less than 30% of a household's monthly income. This estimate gets complicated for students, who often don't have a steady monthly income or rely heavily on student loans and other forms of financial aid.
Image description: Pinecrest Apartments in Davis, which are gray apartment buildings with white trim, along with the sidewalk, grass and a tree near the apartment.
In Davis, monthly rental payments usually increase each year. Here were the average blended rental rates per unit in 2021 (from the 2021 Apartment Vacancy and Rental Rate Survey):
Studio/1bedroom:$1,589/month
2 bedroom: $2,142/month
3 bedroom: $2,970/month
4+ bedrooms: $4,507/month
*These are the rental rates for entire units (i.e. per apartment or house), so unless you live in an a unit by yourself or signed a "by-the-bed" lease, this will be divided between you and your housemates.
Example: You signed a lease for a 2 bedroom with 3 other people, and your unit's monthly rental rate is $2,142. You and all of your roommates each pay about $535.50/month for rent. Most likely, you also pay a separate amount for various utilities (which may include PG&E, Wi-Fi, sewer, garbage, etc.)
Depending on the unit you rent, bedroom sizes and the layout of the house will often influence how you and your housemates divide up rent. Usually it is not divided up evenly, so people with amenities like larger rooms, private bathrooms, or walk-in closets will pay a little more than the other people in the house.
Image description: an example of a typical floorplan available online (from Pinecrest Apartments in Davis)
It is also important to remember that if the average rental rates in Davis are out of your budget, it is okay! It is still possible to find housing for below the average rates, especially in larger units with lots of housemates or in shared rooms.
Cover Image Description and Credit:
A "For Rent" sign posted on a window in red font, with a phone number displayed.
Photo by Erik Mclean on Unsplash
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