Since 2016, affordable housing has been a Salt Lake City Council priority.
Since then, the Council adopted the Growing Salt Lake Housing Plan and created new funding for affordable housing.
The Council continues to seek ongoing funding opportunities and partnerships with others addressing affordable housing needs throughout our County and State.
Funds have historically been distributed in the form of low-interest loans and other incentives through either the RDA (Redevelopment Agency) or the general fund. During the Fiscal Year 20 budget discussions, the Council began exploring ways to streamline and improve transparency for affordable housing funds.
What does "affordable" mean?
The Housing and Urban Development (HUD) Department of the Federal Government defines housing affordability for everyone.
The standard is that no one should need to spend more than 30% of their income on housing.
This table represents what the City means when we say "affordable."
It's based on HUD’s income guidelines and the standard of maintaining rent at a third or less of a household’s income. Learn more about HUD’s affordability standards and 2019 income levels here. The Council has approved financial support for over three dozen affordable housing projects since 2015, and in those which have been completed so far, over 750 new units at varying levels of affordability have been built. Nearly 1,300 more are in the pipeline.
Where is the affordable housing?
This map displays 17 affordable housing investments made by Salt Lake City since 2016, totaling $38,157,250.
These investments reflect the city’s ongoing commitment to affordable housing units for residents earning less than the area median income (AMI). The colors on the map show census tract “opportunity scores,” which use a 1-10 scale that shows combined access to opportunity in school proficiency, poverty, labor market engagement, housing stability and job access.
The Gardner Policy Institute created the opportunity dataset for Salt Lake City and County. The map also includes each project’s leverage ratio, which is how much private investment is spent on housing for every $1 of city funds.