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HUD Releases FY12 Income Limits

On December 1, HUD released both FY12 Incomes limits and median family income (MFI) estimates, which help set eligibility requirements for potential residents at properties in HUD-assisted housing programs, including Section 8. The MFI estimate for a four-person household provides the basis of the income limit in a specific county or metropolitan area. HUD then adjusts by household size and for areas with abnormally high or low rents in order to determine final figures. Project-based Section 8 units at a property are generally available to households with very low income (50% or less of MFI), with some percentage, depending upon the initial contract date, available to those with low income (80% or less of MFI). The statewide FY12 MFI for a four-person household in Oregon is $63,900, which is 1.7% below the national average of $65,000 and a 1.3% increase (on par with the average increase nationally) from the FY11 Oregon MFI of $63,100. Click here for HUD’s FY12 income limit webpage.

— Posted on 12/08/2011