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Annual Income and Housing Payment Affordable for a Family of Four at 80, 50, and 30 Percent of Area Median Income* |
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| Income/Types of Jobs | Amount Affordable | ||
| Twin Cities Metro | Twin Cities Metro | ||
| Moderate income 80% of median income |
$61,120 Construction Workers, Special Ed. and Kindergarten Teachers, Computer Systems Analysts, Police Officers, Funeral Directors, Economists, Landscape Architects, Historians, Plumbers |
$1,527 rent $187,000 purchase |
|
| Low-income 50% of median income |
$38,200 Machine Tool Operators, Dental Assistants, Nursing Aides, Auto Repairers, Jewelers, Insurance Sales Agents, School Social Workers, Law Clerks |
$954 rent $117,000 purchase |
|
| Extremely
low-income 30% of median income |
$22,920 Child Care Workers, Security Guards, Home Care Aides, Hairdressers, Dishwashers, Secretaries, School Bus Drivers, Ambulance Drivers |
$573 rent $70,000 purchase |
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* Area Median Income (AMI), the point at which half the households in an area earn more and half earn less, is the typical starting point for determining what is affordable. The AMI is typically broken down by percentages to set targets for affordability. People earning up to 30 percent of AMI are considered to have "extremely low" incomes, those between 30 and 50 percent of AMI are considered to have "low" incomes, and those between 50 and 80 percent are considered to have "moderate" incomes. Eligibility for most housing programs is based on AMI targets of affordability because it is generally understood that in most communities the private housing industry is unable to provide homes or apartments to populations at or below certain income thresholds without some subsidy.