The Lost Properties Inventory: Affordability of Post-Subsidy Rents Shimberg Center for Housing Studies, University of Florida - Data and Methods

For example, a property with a three-bedroom gross rent in the 30.01-60% AMI range but a two-bedroom gross rent in the 60.01-80% AMI range was categorized as “affordable” at the 80% AMI level, “mixed” at the 60% AMI level, and unaffordable at the 30% AMI level. [...] Results Affordability Current rents for most of the formerly subsidized properties would not be affordable by the standards of the Housing Credit and SAIL programs. [...] Of the 61 properties in the survey sample: - 49 properties (80%) were unaffordable at the 60 percent AMI limit. [...] Table A2 in the appendix compares Florida Housing’s 30, 60, and 80 percent AMI rent limits for 1-3 bedroom units across the sample counties to the range of rents for LPI properties in the survey sample. [...] For multifamily units built in 1990 or later–the properties most comparable to Florida Housing’s portfolio–84 percent of units were unaffordable at 60 percent AMI.3 The current survey results differ from the findings of a previous survey of LPI developments conducted in 2009.4 In that year, most formerly subsidized properties continued to be affordable at the 60 percent AMI rent limit; as with the.