In a study released Wednesday by the Utah Foundation, residents were asked if they felt their housing was affordable. The answers show a difference in thinking between generations and a difference between owners and renters.
According to the foundation, the standard definition of housing affordability is that a household should not pay more than 30 percent of its income toward housing costs, including utilities. That rule-of-thumb of 30 percent was established in 1981 in an amendment to the U.S. Housing and Urban Development Act 6, according to the foundation.
In the foundation’s study, it asked respondents, on a scale of 1 to 5, from disagree to agree, whether “I feel that my housing costs are affordable for me.” Most Utahns responded that their own housing was affordable; 12 percent of respondents felt that their housing costs were unaffordable.
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