Town of Wake Forest | HOUSING AFFORDABILITY PLAN
Appendix 3: 2021 Maximum Affordable Monthly Housing Costs for Raleigh MSA
Housing costs are considered affordable when a household spends less than 30% of its income on gross housing costs, including rent or mortgage payments and utilities. For example, a household earning $50,000 can afford housing costs up to $1,250 per month. If housing costs exceed that limit, the household is cost burdened. The monthly cost limit for households in Wake Forest by size and income level is shown in the table below.
Source: U.S. Department of Housing & Urban Development
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