Overview

The Prosperity Christian Resource and Community Housing Development Center provides homeownership opportunities to Very-Low-Income individuals, that improve communities, and enhance the quality of life for men, women, children, and families.

According to the federal government, housing is considered affordable if it consumes no more than 30 percent of a house holds income.  Only households which meet certain income restrictions qualify for very low income or low income affordable housing: they must have an income that equals or exceeds a lower limit and their income must not exceed an upper limit.

Under the federal governments definitions, a family is considered low income if the household income is below 80 percent of an area's median income (AMI) after adjustment for family size; similarly, a family whose income is below 50 percent of AMI is considered very low income (after adjustment for family size.) 

The terms low income and very low income can be confusing. The following are examples of various jobs in North Carolina which pay salaries that qualify as low income and very low income under the federal government's definitions. These examples are based on the 2004 HUD Home Program Income Limits for Rockingham County, North Carolina (If you do not live in Rockingham County, please see HUD Home Program Income Limits for your County and State):

Low Income

Below 80 percent of area median income (80% Limits: Upper Limit = $36,900.00 / Lower Limit = $27,660.01) for a family of four.  Below 60 percent of area median income (60% Limits: Upper Limit = $27,660.00 / Lower Limit = $23,050.01)

                                     Job Title  & Annual Salary

Truck Driver                                                  $30,100
Legal Clerk                                                    $34,260
Firefighter                                                      $36,506

Very Low Income

Below 50 percent of area median income (50% Limits: Upper Limit = $23,050.00 / Lower Limit = $13,850.01) for a family of four. Below 30 percent of area median income (30% Limits: Upper Limit = $13,850.00 / Lower Limit = Everything below $13,850.00)
                                  

 Job Title & Annual Salary

Nurses Aide                                                    $11,500
Accounting Clerk                                           $17,000
Legal Secretary                                               $23,020