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Updated CPI Figure Shows Jump in National Median Income; Rent and Income Limit Estimator© Updated

Thursday, February 16, 2023 - 11:45AM

The Congressional Budget Office (CBO) released its Budget and Economic Outlook for 2023 to 2033 Wednesday, including the consumer price index (CPI) figure that has historically been used by the U.S. Department of Housing and Urban Development (HUD) to determine income limits for low-income housing tax credit (LIHTC) properties. Novogradac used CBO’s estimate of CPI to update its estimate of the 2023 national median income to $96,200–a 6.9% increase over the 2022 figure.

The Novogradac Rent and Income Limit Estimator© can provide income limit estimates.

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