Novogradac Rent & Income Limit Calculator©

The Rent & Income Limit Calculator© is available with the compliments of Novogradac.

The Novogradac Rent & Income Limit Calculator© has been updated in the beta version to include fiscal year (FY) 2019 rent and income limit data that was released by the U.S. Department of Housing and Urban Development April 24. Before using the numbers from the Novogradac Rent & Income Limit Calculator©, you should check with the applicable state housing agency to verify that the state agrees with the numbers. Novogradac does not set rent and income limits. The Novogradac Rent & Income Limit Calculator© summarizes HUD data; however, the determination of income limits is the sole responsibility of HUD.

The Novogradac Rent & Income Limit Calculator© is meant for the use of tax credit housing professionals only. It does not have the capability to determine eligibility for those seeking to qualify for and occupy low-income housing.

If you have questions about the income limits, or would like to engage Novogradac & Company LLP to calculate the rent and income limits for your property, please contact Thomas Stagg at [email protected].

Launch the Novogradac Rent & Income Limit Calculator©

 

About the Novogradac Rent & Income Limit Calculator©:

  • This program will calculate IRS 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.
  • It provides the HUD sourced 30%, Very Low (50%), and Low (80%) income limits for the selected county.
  • It automatically calculates the LIHTC Rent and Income Limits for any selected percentage of the Area Median Income (AMGI) for the selected county.
  • Users can choose which bedroom sizes are displayed (the default setting displays results for all bedroom sizes).
  • Users can choose which income or rent levels are displayed on the 12 year historical charts.

Other Features Include:

  • The ability to display the Fair Market Rent (FMRs), as determined by HUD.
  • A section for user to input allowances by bedroom type, so that LIHTC rents are shown before and after deduction of utility allowance;
  • The ability to see average percentage income and rent increase over last 12 years; and
  • The ability to display 140% income limits for purposes of the next available unit rule based on the 50% or 60% HUD income limits depending on minimum set aside chosen.