In this Subtitle, the following terms relating to affordability standards have the meanings indicated. An “extremely low” housing cost equals an amount not more than 1/12 of 30% of 30% of the AMI, adjusted for household size. A “very low” housing cost equals an amount greater than 1/12 of 30% of 30% of the AMI, but not more than 1/12 of 30% of 50% of the AMI, adjusted for household size. A “low” housing cost equals an amount greater than 1/12 of 30% of 60% of the AMI, but not more than 1/12 of 30% of 60% of the AMI, adjusted for household size. A “moderate” housing cost equals an amount greater than 1/12 of 30% of 80% of the AMI, but not more than 1/12 of 30% of 80% of the AMI, adjusted for household size. “Affordable unit” means a dwelling unit that is required by this subtitle to be provided to a family earning an income that is either:low income; moderate income; very low income; or extremely low income. “AMI” means the area median income for the metropolitan region that encompasses Baltimore City, as published and annually updated by the United States Department of Housing and Urban Development. “Eligible household” means a household with extremely low, very low, low, or moderate income. “Extremely low income” means a household income below 30% AMI. “Housing cost” means for rental units, a monthly payment for lease, sublet, let, or other rights to occupy a residential unit, excluding utilities, parking, and discretionary fees. “Low income” means a household income at or below 60% AMI. “Market rate” means not restricted to an affordable rent or affordable ownership cost. “Moderate income” means a household income at or below 80% AMI. “Very low income” means a household income at or below 50% AMI. Ord. 07-474 Article 13, § 2B-3