Affordable housing has its own vocabulary, from AMI and LIHTC to Section 8, RAD, ROSS, and recertification. This glossary explains common affordable housing terms and acronyms in plain English for property managers, service coordinators, housing professionals, residents, and anyone new to the industry.
Housing designed to cost less for people and families with limited incomes.
Area Median Income. The midpoint household income for a geographic area and a key benchmark for determining affordable housing eligibility.
T he required yearly review of a household's income and eligibility in many affordable housing programs.
Following the rules and documentation requirements of an affordable housing program.
A HUD income category generally used for households earning 30% or less of the local AMI.
The most common type of Section 8 assistance. Residents use a voucher to help rent an eligible privately owned home.
A local government agency that administers public housing and housing assistance programs. PHA stands for Public Housing Agency.
The U.S. Department of Housing and Urban Development, the federal agency that oversees many housing programs.
The maximum household income allowed to qualify for a particular affordable housing program.
A review conducted between annual recertifications because something significant changed, such as income or household size.
Low-Income Housing Tax Credit. A federal tax incentive used to finance the construction or preservation of affordable rental housing.
A HUD income category generally covering households earning 80% or less of the local AMI.
Whether housing units are filled by residents. An occupancy rate shows the percentage of units currently rented.
Federal rental assistance attached to particular affordable housing properties, usually through a contract with HUD.
Rental assistance tied to a specific apartment or property rather than to the resident.
Housing owned or operated by a local housing authority and rented to eligible low-income households.
A HUD program that allows public housing properties to convert to long-term Section 8 rental assistance, making it easier to finance major repairs and preserve affordable housing.
The periodic process of verifying a resident's income, household information, and eligibility for continued housing assistance.
An apartment whose rent cannot exceed limits established by an affordable housing program.
The person or household living in the housing unit. “Resident” is often preferred in community-oriented settings, while “tenant” is common in leases and regulations.
A HUD program that funds service coordinators who connect public housing residents with employment, education, healthcare, transportation, financial literacy, and other supportive services.
A federal program that helps eligible households pay rent. The government typically pays part of the rent directly to the landlord.
Housing where government assistance helps reduce what an eligible resident pays in rent.
The portion of the monthly rent that the resident is responsible for paying.
An estimated amount for utilities that may be taken into account when calculating how much rent a resident must pay.
A HUD income category generally covering households earning 50% or less of the local AMI.
A list of households waiting for an affordable apartment or housing assistance to become available.
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