The Urban Land Institute defines workforce households as those households earning between 60% and 100% of Area Median Income (AMI). According to Fannie Mae, this income band accounts for about 30% of all renter households in the United States.
But half of all new construction targets those households earning more that 100% of AMI; the other half targets those earning less than 60% of AMI. Fact is, very few new units are being built to meet the needs of the workforce housing market segment – the backbone of any local economy.
Follow this link to the Fannie Mae report: