The Town of Holly Springs seeks to provide a range of affordable housing choices within the community. A variety of affordable housing choices allows residents at all stages of life, with different housing needs and preferences, to live in the community for a lifetime.
By focusing on housing affordability, the Town can provide opportunities for people who make Holly Springs a great place to live (teachers, police officers, fire fighters, public works staff, retail and restaurant workers, and others) can also live in the same community where they work.
Housing Affordability vs. Affordable Housing
Housing affordability and affordable housing are two different concepts that impact the local housing market.
A term that describes the general affordability of housing and associated housing costs like utilities, insurance, and transportation. The term "affordability" refers to the total cost of housing as a percentage of gross income. Housing is considered affordable when it does not exceed 30% of gross income.
A specific type of housing that is constructed to supply a community with housing units that are deemed affordable. Affordable housing units may limit ownership or rental to certain income levels. Generally, these units are available to households that earn less than 80% of the area median income (AMI).