HUD Releases FY 2018 Income Limits
The U.S. Department of Housing and Urban Development today released income limits for fiscal year 2018 (FY 2018). The limits are used to determine income eligibility for HUD-assisted housing programs, including public housing, Section 8, Section 202 and Section 811, as well as what HUD calls Multifamily Tax Subsidy Program (MTSP), which includes low-income housing tax credit (LIHTC) properties. For FY 2018, the national median income increased by 5.75 percent. HUD will continue to cap increases at twice the change in national median income, which means the 2018 cap will be 11.5 percent.
Read the Notes from Novogradac blog for a primer on income limits, what you need to know about HUD FY 2018 income limits and estimating median income for 2018 and 2019. The Novogradac Rent & Income Limit Calculator® will be updated in the coming weeks and an industry alert will be sent to announce it.