Program Income Limits
We provide the income and applicable rent limits for our conventional loan programs. Income and rent limits are also provided for the tax credit and tax-exempt bond funded properties as a resource only. Owners of tax credit and tax-exempt bond properties must confirm the tax credit, MTSP, and National Non-Metropolitan limits on the HUD website before implementing income and rent limits. Please note, HUD may update the income limits after the initial published date, which may affect compliance for tax credit and tax-exempt bond programs.
Properties Financed With Tax Credits And Tax-Exempt Bonds
Rents on qualified tax credit units are restricted. Tax credit units’ maximum allowable rent is based on the number of bedrooms and AMI as established annually by HUD. If a household pays for utilities, the maximum rent must be adjusted by the applicable utility allowance.
There is no regulation on rent restrictions for properties financed with tax-exempt bonds.
Federal housing tax credit and tax-exempt bond properties must use the Multifamily Tax Subsidy Project (MTSP) income limits and Average Income Test income limits as applicable. Average Income includes new (expanded) income limitations at 20%, 30%, 40%, 70%, and 80% AMI.
The 70% and 80% limits are not applicable to the tax-exempt bond program.
- HUD Multifamily Tax Subsidy Program Limits (MTSP)
- HUD Section 8 Program Limits
- Novogradac Rent and Income Limits Calculator
Conventional Loan Program Income Limits
Our conventional loan programs include tax-exempt or taxable bonds, mixed-use/mixed-income, REACH Virginia, Special Initiatives Program and SPARC financing. Federal guidelines determine income or occupancy restrictions for the tax-exempt bond program. Upon initial occupancy, a household's gross annual or adjusted annual income cannot exceed the income limit(s) included in the Regulatory Loan Agreement.
We use HUD’s annual Section 8 income limits to calculate our conventional loan income limits at 50%, 80%, 100%, 120% and 150% AMI. The limits are not based upon the number of people in the household as published in the HUD Section 8 income limits chart.
You are responsible for ensuring the appropriate income and rent are applied to your property, so you remain in compliance.
HERA Special Income Limits
Only tax credit or Section 142 tax-exempt bond-funded properties placed in service prior to January 1, 2009, in the identified HERA Special localities can use the HERA Special Limits. All others must use the regular income limits and/or rents based on the project’s placed-in service date.