Income and Rent Guidelines
MAXIMUM INCOME BY HOUSEHOLD/MAXIMUM RENTS LIMITS
Notes to Schedule of Maximum Affordable Rent and Gross Income Limits
1. Maximum monthly rent is computed by multiplying the HUD maximum income adjusted for family size by 30% (maximum imputed housing expense allowance) then dividing by 12 (months). All decimal points round down.
2. Maximum monthly rent includes utilities except for household phone, internet and cable. Maximum rent must be reduced by an approved utility allowance for tenants that pay all or some utilities not provided by owner.
3. Maximum rents for LIHTC development are determined by bedroom size for all developers after 1989 and pre-1990 developments receiving the irrevocable
Rent Change Election of 1994. For developments before 1990, number of unit occupants must be used.
4. Per HUD methodology, the 4 person Low Income (80% of AMI) is limited to the U.S. median family income level unless justified by high housing costs. For 2022 the U.S. median family income is $90,000.
5. Please be aware that all income limits used for the LIHTC program must be from the Multifamily Tax Subsidy Project (MTSP) Income Limits published by HUD.
Section 8 properties will continue to use the Section 8 Income Limits.
6. For LIHTC properties - please note that HUD has added a Hold Harmless Policy which is impacting this year's income limits. Therefore, there are now areas that are impacted by the HUD Hold Harmless Policy in addition to areas that were previously impacted by the Housing & Economic Recovery Act of 2008 (HERA).
7. Applying to the New Income Limits to LIHTC Properties: