The term ‘affordable’ can be used loosely in Jackson, Wyoming. According to the Jackson/Teton County Housing Department (TCHD), an affordable unit is one that is viably priced for those earning less than 160% Median Family Income (MFI), which is a figure calculated by the U.S. Department of Housing and Urban Development (HUD).

Affordability Thresholds

TCHD sorts applicants into four income ranges: under 50%, 50 to 80%, 80 to 120%, and 120 to 160% MFI. The thresholds shift with household size. For a single person, the 120-160% range means earning between $124,740 and $166,320 a year.

Parkside at Benson-Brown Station, which was built in partnership with Habitat for Humanity of the Greater Teton Region (Teton Habitat), accepted 18 households after it was built, all of which earn under 80% MFI. For a single person, to qualify to rent would require the applicant to make less than $51,975 per year, or a little less than $25 per hour working a 40-hour week.

Local Developments

Another well-known project, now on hold, is the 90 Virginian Lane housing development. The final product mix proposed 161 rentals and 60 for-sale homes. Of those 221 units, 78 were slated to be workforce housing, which has no income limit and only requires the resident to work full time in Teton County.

Jackson Street Apartments is another TCHD development, but covers lower MFI thresholds. The project’s 36 units span three affordable income ranges, with the bulk landing in the 50 to 80% MFI range and nothing available above 120% MFI.

Original reporting: Buckrail (Jackson WY) — read the source article.