Fiscal Year 2018 Income Limits to be Released March 30
The U.S. Department of Housing and Urban Development (HUD) has set a target release date for new income limits of April 1 of each year. In 2011, HUD set a target release date for income limits of Dec. 1 of every year. However, in 2015 Congress changed how the extremely low-income limit was determined, making it infeasible for HUD to be able to achieve the Dec. 1 income limit release target.
Since then, HUD has received comments from various income limit users stating that the new unpredictable release date has caused burdens on families, PHAs and other users. These comments urged HUD to develop a new predictable, scheduled release date. In response, HUD set a new target date for releasing income limits of April 1 of each year. Because April 1, 2018 is a Sunday, HUD has set the ambitious goal of having the limits released on Friday, March 30.
Novogradac & Company LLP will update its Rent and Income Limit Calculator © with the updated income limits once they have been released by HUD.
As a reminder, Novogradac & Company LLP predicts robust income growth for 2018 and 2019. More information about the 2018 Income limits can be found in these two previous posts: