On Dec. 11, HUD re-released new income limits for fiscal year 2013. The revised data supersedes the income limits posted on Dec. 4 for all areas. The new income limits took effect on Dec. 11. The income limits are set as a percentage of area median income adjusted for household size. The newly issued income limits and further information regarding the income limits can be found at www.huduser.org/portal/datasets/il/il13/index.html.
HUD released two sets of income limits. The Section 8 income limits, which it uses to determine income eligibility for HUD’s assisted housing programs, including public housing, Section 8, Section 202, and Section 811, and the Multifamily Tax Subsidy Projects income limits, which it uses to determine qualification levels and to set maximum rental rates for low-income housing tax credit or tax-exempt bond projects.
For a closer look at the income limits, and a discussion of calculating your site-specific income limits, click here.