What Is Mixed-Income Housing?
Mixed-income housing settings refer to those by which housing is made affordable for individuals and families of varying income levels.
The term is used to describe projects that involve a mix of high-end/luxury and affordable units in the same building or development.
These units may be alternated in the same hallway, separated in different buildings, or on other floors or wings of the same building.
Neighborhoods are classed as mixed-income when the housing options to pick from are affordable to residents on different pay grades and income scales.
Thus, it is an alternative to traditional low-cost housing schemes for low-income Americans, and by it, apartments with varying levels of affordability are built in the same system.
Some are priced at the market rates, and some are below the market rates.
The mixed-income housing model for affordable housing does not focus on building in densely populated areas but on spreading the reach for individuals from widely varying income backgrounds or classes.
The blend of various apartments that comprise mixed-income properties differ from one community to another and are dependent on the prevailing conditions of the housing market in the home community and the appeal of each housing unit.
Mixed housing communities are home to several housing types, including apartments, single-family homes, and townhomes.
According to the United States Department of Housing and Urban Development, HUD, mixed-income housing increases the standard of living for residents in the low-income bracket. The department submits that this housing system increases the overall valuation of properties, brings stability and diversification to the communities, and results in a higher quality of homes and services across the board.
Mixed-Income Housing Example
Suppose young, low-income partners need to get a comfortable abode with access to public infrastructure and amenities. Public transportation, for instance, can ease the stress in their daily commute to work. In that case, they could consider getting a property in a community with housing units that are spread to meet the needs of individuals of varying economic cadres and are also close to transport stations.
Such a community has a selection of subsidized apartments mixed with market-rate ones and has their earnings increased. There is upward labor mobility, and they can move to up-market single-family homes in the same community.« Back to Glossary Index