Affordable housing refers to residential properties that are priced within reach for a majority of people, making it possible for them to own or rent a home without straining their budget. This type of housing is usually made available through government programs, non-profit organizations, and other initiatives aimed at providing low-income families with decent shelter. The cost of affordable housing is typically based on the income level of the household, ensuring that they do not spend more than 30% of their monthly income on rent or mortgage payments. In essence, affordable housing aims to bridge the gap between those who cannot afford market-rate homes and those who are priced out of the market.