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Monday, December 10, 2012 - 2:00AM

Novogradac & Company LLP's is pleased to announce that the Rent & Income Limit Calculator© has been updated to include the U.S. Department of Housing and Urban Development's (HUD’s) fiscal year 2013 rent and income limit data. The Rent & Income Limit Calculator© will calculate IRC 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.

Nationwide, 84 percent of counties saw a decrease in the 2013 HUD published 50 percent multifamily tax subsidy project (MTSP) limit compared to 2012. For existing MTSP properties, the income and rent limits will be held harmless at the highest level the project reached since it was placed in service. New MTSP properties placed in service in 2013 will be required to use the 2013 income limit, which is lower than the 2012 income limit for the majority of the counties.

A Beta version of the Rent & Income Limit Calculator© is available online at with the compliments of Novogradac & Company LLP. Please let us know if you have comments about calculator or if you find any irregularities in the results; we will incorporate these comments into the final release.

If you have questions about the 2013 income limits and what they could mean for your affordable housing property, please contact James R. Kroger, CPA, at 415.356.8000 or [email protected], or Thomas A. Stagg, CPA, at 425.453.5783 or [email protected].

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