HUD Releases Fiscal Year 2018 Income Limits
Wednesday, April 11, 2018
The U.S. Department of Housing and Urban Development (HUD) has released Fiscal Year (FY) 2018 Income Limits and estimated median family incomes (MFIs).
Income limits are set by HUD to determine the eligibility of applicants for HUD’s assisted housing programs, such as Section 202, Section 811 and Section 8 Housing Choice and Project-Based Vouchers.
Section 8 Fair Market Rent (FMR) area definitions are used to develop median family income estimates for each metropolitan area and non-metropolitan county. HUD income limits are calculated for every FMR area with adjustments for family size and for areas that have unusually high or low income-to-housing-cost relationships.
Low-income families are defined as families whose incomes do not exceed 80 percent of the median family income for the area. Very low-income families are defined as families whose incomes do not exceed 50 percent of the median family income for the area. Income limits for non-metropolitan areas may not be less than limits based on the state non-metropolitan median family income level.
These income limits are effective as of April 1. The income limits can be found here.