[scrose]

Interesting, thanks for the history! I personally qualified for/lived in an affordable housing unit for a few years right after college. The income limit for a single person was 95k at the time

What I find interesting about many of these units is how the net effective rent is still typically 40x annual income for people in that bracket. If I hadn’t switched jobs and gotten some significant raises in the process, much of my salary would have still been going to housing in an ‘affordable’ unit.

[kevindong]

The rent is specifically chosen to be 30% of gross annual income which works out to be exactly that magical 40x ratio that's typically used in NYC rental qualification.