A home is considered to be “affordable” if it costs less than 30% of the income of a household earning 80% or less of the Area Median Income (AMI). Connecticut General Statutes §8-30g requires that 10% of the total housing stock for a community to be set aside as “affordable”. In order for the housing unit to count towards the community’s official tally, the property must be subject to a deed restriction for at least 30 years. Income calculations are adjusted annually based on projection provided by the Department of Housing and Urban Development. The Town of Simsbury would follow income levels projections for the Hartford-West Hartford Metro Area.

Affordable housing helps diversify a community’s housing stock. A diversified housing stock gives housing options to first time home buyers or provides seniors the ability to age in place. According to the 2017 Plan of Conservation and Development, 48% of respondents felt there were too few affordable housing options for first time home buyers and 44% felt that there were too few affordable housing options for elderly persons. One of the goals of the plan was to maintain and enhance the safe, healthful, aesthetic and distinctive living environment in Simsbury while providing for a range of housing choices for people of all ages and economic circumstances.