HUD Releases FY 2017 Income Limits

Friday, April 14, 2017 - 9:00AM

The U.S. Department of Housing and Urban Development today released income limits for fiscal year 2017 (FY 2017). The limits are used to determine income eligibility for HUD-assisted housing programs, including public housing, Section 8, Section 202 and Section 811. HUD said the U.S. median income increased 3.5 percent to $68,000 in 2017. That means the cap for increases in limits for income and respective rent limits for multifamily tax-subsidized properties will be 7 percent. The income limits used to determine qualification levels and maximum rent for low-income housing tax credit (LIHTC) or tax-exempt bond properties are calculated separately from the Section 8 income limits.

Novogradac & Company will update its Rent & Income Limit Calculator © to include the 2017 data.

For in-depth analysis on how income limits may affect your property, register for the Novogradac 2017 HUD Rent and Income Limits and Your Tax Credit Property: Back to Basics Webinar. The time and date will be announced shortly.

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