Why do you call it “affordable” housing?

HHP’s projects receive government funding that ensures that homebuyers are sold homes at “affordable” sales prices. The Affordable Sales Price is calculated using a State mandated formula that ensures that the typical buyer does not spend more than 35% of his or her monthly total income on housing expenses. Housing expenses include: mortgage payment; property insurance; property taxes; HOA (homeownership association) fees; and, estimated utilities. The Affordable Sales Price is calculated each year. In a market where many families pay 40% to 50% of their income to housing costs, HHP’s homes are a great value.