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Rent & Income Limit Calculator
The Rent & Income Limit Calculator© is available with the compliments of Novogradac & Company LLP. Rent and income limit data now includes 2009 limits.
The Rent & Income Limit Calculator© is meant for the use of tax credit housing professionals only. It does not have the capability to determine eligibility for those seeking to qualify and occupy low-income housing.
- • This program will calculate IRS Section 42(i)(3)(A) low-income housing tax credit (LIHTC) rent and income limits for every county and for every Metropolitan Statistical Area (MSA) in the United States;
- • It provides the HUD sourced 30%, 50%, and 80% income limits for the selected county;
- • It automatically calculates the LIHTC Rent and Income Limits for any selected percentage of the Area Median Income (AMGI) for the selected county.
- • The user may select parameters to calculate rent and income limits for other affordable housing programs.
- • Users can choose which bedroom sizes are displayed (the default setting displays results for all bedroom sizes).
- • Users can choose which income or rent levels are displayed on the 10 year historical charts.
New in 2009 :
- • The calculator has been updated to incorporate changes to the law made by the Housing and Economic Recovery Act of 2008 (HERA).
- • A new field has been added in which users can type the project name, resulting in the project name being displayed on the last page.
Other Features Include:
- • The ability to display the Fair Market Rent (FMRs), as determined by HUD. FMRs are used to determine the eligibility of rental housing units for the Section 8 Housing Assistance Payments program. Section 8 Rental Certificate program participants cannot rent units whose rents exceed the FMRs.
- • A section for user to input allowances by bedroom type, so that LIHTC rents are shown before and after deduction of utility allowance;
- • The ability to see average percentage income and rent increase over last 7 years; and
- • The ability to display 140% income limits for purposes of the next available unit rule based on the 50% or 60% HUD income limits depending on minimum set aside chosen.
Related Resources:
Novogradac & Company HUD AMGI Presentation
LIHTC Hot Topics > HUD AMGI
After reviewing the calculator, please type your comments in the field below.
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