Novogradac Estimates LIHTC, Section 8 Income Limit Increase Cap Will be Double-Digits in 2019, almost 9 Percent in 2020
Novogradac estimates the U.S. median income will increase by more than 5 percent in 2019 and by nearly 4.4 percent in 2020, based on 2017 American Community Survey data released Thursday. Low-income housing tax credit (LIHTC) properties and U.S. Department of Housing and Urban Development Section 8 limits increases are capped at the greater of 5 percent or double the median-income change, meaning the estimated cap for 2019 will be more than 10 percent and the 2020 cap will be almost 8.8 percent. Read more in a Notes from Novogradac blog post. Novogradac has also updated its Rent and Income Limit Estimator© to include 2020.