Housing Fund Income Limits

Housing Fund assistance is restricted to activities serving low- and very-low income families. Low-income families are defined as families earning a maximum of 80 percent of the area median income (adjusted for family size). Very-low income families are defined as families at or below 50 percent of the area median income. HUD establishes income levels for these definitions on a periodic basis.

Rental Housing
All assisted units must be occupied by families below 80 percent of the area median income. At least 20 percent of the units must be occupied by tenants below 50 percent of the area median income. At least 90 percent of Housing Fund assistance for rental housing must be invested in units occupied by families with incomes at or below 60 percent of the area median income.

Home Ownership
Homeowners assisted with the Housing Fund must have incomes at or below 80 percent of the area median income. The home must be the owner's principal residence and valued at or below 95 percent of the area median sale price. Resale provisions apply to the first-time homebuyer program to ensure continued affordability.

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