Housing Cost Affordability Tool
This Housing Cost Affordability Tool has been created to help community led housing groups understand what level of monthly housing cost is truly affordable for local families in their area. The tool looks at local incomes, local rents and sales prices, average deposit levels needed to buy, and introduces the concept of residual rent which is the amount of income available to pay rent after other essential needs are covered.
All figures are for illustrative purposes only and seek to allow community-led housing groups to start the conversation on housing affordability in their local authority area. The figures are not meant to represent definitive values and are not meant to be used for detailed financial modelling.
If you have feedback or suggestions as you use the tool, please send those to Rosie McBride at email@example.com
|Current version No.:||HCAT V1.0 030220|
|Previous version No.:||ARST Beta V1 211119|
|Changes made from previous version:||# Ability to set affordable rents between 50% & 80% of MRV|
# Addition of a Guidance Note Front Sheet
# Social rents updated
# Lower Quartile House Prices updated - so prices are averaged over 12 months.