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to family incomes, and the 100% median is set for families of four. Median household income is for <br />all households - not just families - and households can have a wide range of compositions (e.g., <br />roommates) compared to families. <br />Exhibit 20 below matches the different income levels in the Boulder Metro Area with rent and <br />home sale prices deemed affordable to their income levels (i.e., spending no more than 30% of <br />their income on housing costs). <br />Exhibit 20: Financially Attainable Housing by Median Family Income (MFI) for a Family of Four, <br />Boulder Metro Area, 2023' <br />Source: US Department of Housing and Urban Development, Boulder Metro Area, 2023 <br />$43,230 <br /><30%AMI <br />Ab AA A IAA <br />$172,920 <br />120%AMI <br />$1,100 $984 $1,574 $1,855 $2,226 <br />MONTHLY RENT MONTHLY RENT MONTHLY RENT MONTHLY RENT MONTHLY RENT <br />OR <br />$130k$151k <br />HOME SALES <br />PRICE <br />A <br />Medical Assistant <br />$44,870 <br />yl <br />Cashier <br />$33,900 <br />OR <br />$216k $252k <br />HOME SALES <br />PRICE <br />VE <br />Middle School Teacher <br />$72,120 <br />4 <br />Firefighter <br />$65,110 <br />OR <br />OR <br />$346k$403k $432k$504k <br />HOME SALES HOME SALES <br />PRICE PRICE <br />W <br />Mechanical Engineer <br />$113,610 <br />4 <br />Nurse Practitioner <br />$122,320 <br />u <br />V <br />Aerospace Engineer <br />$138,770 <br />nr <br />0 <br />Pharmacist <br />$140,860 <br />OR <br />$519k$605k <br />HOME SALES <br />PRICE <br /><n� <br />1F;1 <br />Software Developer <br />$169,750 <br />A <br />Dentist <br />$161,0 60 <br />A household would need to earn 145% of the MR, or around $209,000 to afford the average home <br />sales price in Louisville. Only 26% of Louisville households earn more than $200,000 annually, <br />suggesting at least 74% of Louisville households would not be able to afford the current average <br />home sales price. In addition, Louisville renter incomes are significantly lower than Louisville <br />homeowner incomes (see Exhibit 10). Based on 2021 ACS data, renter median incomes would fall <br />at around 56% of the 2023 MFI (qualifying as just above "very low income" under HUD standards), <br />while the homeowner median income would fall at roughly 111% of the 2023 MR, indicating that <br />homeownership is likely significantly more out of reach for households that do not already own a <br />home. <br />Home sales prices may vary with mortgage interest rate fluctuations, any homeowner association costs, or <br />utility fee variations. <br />21 <br />Louisville Housing Plan Part 2: Housing Needs and Market Assessment <br />