HUD Announces Development of H+T Affordability Index
The U.S. Department of Housing and Urban Development (HUD) has commissioned a study to develop a national index for Housing and Transportation Affordability (H+T Affordability). HUD's current measures of housing affordability focus solely on the proportion of a household's income that is devoted to housing costs. However, many households incur high combined housing and transportation costs by moving to areas with housing that is less expensive but is also far from transit and/or jobs. For example, in the CMAP region, many low- and moderate-income households face long and costly commutes to the region's job centers. This new HUD study will build on the Center for Neighborhood Technology's prior analysis of H+T Affordability in 337 metro areas - including Chicago - to develop a national H+T Affordability index and provide insight into how HUD may incorporate the index into its programs and policies.