(1) As used in this section:
(a) "Affordable housing" means, as determined by the division, the number of housing units within a county or municipality where a household whose income is at or below 50% of area median income is able to live in a unit without spending more than 30% of the household's income on housing costs.
(b) "County" means the unincorporated area of a county.
(c) "Low-income housing" means, as determined by the division, the number of Section 42, Internal Revenue Code, housing units within a county or municipality.
(d) "Municipality" means a city or town.
(2)
(a) On or before October 1 of each year, the division shall provide a report to the office for inclusion in the office's annual report described in Section 63N-1a-306.
(b) The report shall include:
(i) an estimate of how many affordable housing units and how many low-income housing units are available in each county and municipality in the state;
(ii) a determination of the percentage of affordable housing available in each county and municipality in the state as compared to the statewide average;
(iii) a determination of the percentage of low-income housing available in each county and municipality in the state as compared to the statewide average; and
(iv) a description of how information in the report was calculated.