affordable housing
"Affordable housing" is crucial for ensuring that individuals and families with limited financial resources can secure safe and stable living conditions without excessive financial strain.
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Definition
B2General
(formal, policy)Housing that costs no more than a specified percentage of an occupant's income, usually around 30%, including utilities.
Example
- Many cities are investing in affordable housing to support low-income families.
- She moved into affordable housing to better manage her monthly expenses.
C1Government and Policy
(technical, formal)Residential units priced within the budget of low- to moderate-income households, often with government subsidies or support.
Example
- The government announced new affordable housing initiatives to address the rising cost of living.
- Affordable housing programs aim to reduce homelessness by providing economically feasible living options.
Similar
Terms that have similar or relatively close meanings to "affordable housing":