What is affordable housing?

The term affordable housing gets used a lot in Vermont, but what does affordable mean to each person? While housing developments are being built all over Chittenden County, that doesn't mean everyone has the budget to live there.

"I would say 25 to 30 percent of my income," said Candice Holbrook, who rents in Winooski.

Financial experts agree affordable housing is when you spend 30 percent or less of your income on housing. Holbrook used to live in South Burlington but was priced out.

"So when I moved to Vermont it was hard to find housing. Originally, I was in a duplex and it was $1,800 a month and that was in South Burlington. Now, I live in Winooski where it's much more affordable," she said.

According to the Champlain Housing Trust, 56 percent of renters in Chittenden County pay more than 30 percent of their income on housing. For homeowners that number is 33 percent.

Holbrook keeps things affordable by having roommates, something many in Chittenden County are forced to do.

"As a single person, as a young working professional, I think it's absolutely necessary to have a roommate to still live the lifestyle I want," Holbrook said.

In 2002, 75 percent of people who worked in Chittenden County lived in Chittenden County. Today, only 68 percent of workers live in Chittenden County. That's about 102,000 people. Those working in real estate are not surprised.

"This area suffers from 20 years of not keeping up with the housing demand. And it now reflects in what's going on in the sales, but it also reflects in the level of the rental market," said Christopher Michael von Trapp, who has been a real estate agent in South Burlington for 24 years.

Von Trapp has seen the housing shortage go from a general annoyance to a financial burden. He's not the only one.

"I rented at first, but the rent seemed to increase periodically and I didn't like that, so I purchased a home," Robert Pettinelli said.

Pettinelli was able to buy in Williston. He prefers a fixed mortgage to rising rent. He, too, is trying to keep his housing expenses to an affordable cost of living.

There are a lot of new housing developments in the works all over Chittenden County. One of those

They are being marketed as affordable with a base model costing $350,000.