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In other words, if say HUD determines that a local area's median income is $25,000, then the HOME funds awarded in that area should only benefit those families with incomes less than, or equal to, 80% of $25,000 (or $20,000). HUD publishes the area median incomes plus the 80% income limits every year in its website.
HUD mandates that 75% of newly enrolled households should fall at or below 30% of the area's median income. Eligibility considers various factors such as household income, size, composition, citizenship status, assets, and essential expenses like healthcare and childcare. [ 28 ]
Low-income tenants can be charged a maximum rent of 30% of the maximum eligible income, which is 60% of the area's median income adjusted for household size as determined by HUD. There are no limits on the rents that can be charged to tenants who are not low income but live in the same project.
In 2024, for the second year in a row, a record number of people in the U.S. experienced homelessness on a single night, according to the U.S. Department of Housing and Urban Development (HUD ...
The chart below depicts the 100 highest income counties in the United States by median household income according to the US Census Bureau's American Community Survey data for 2016-2020, in constant 2020 dollars.
Map of locations by per capita income. Areas with higher levels of income are shaded darker. Massachusetts is the second wealthiest state in the United States of America, with a median household income of $89,026 (as of 2021), [1] and a per capita income of $48,617 (as of 2021). [2] Many of the state's wealthiest towns are located in the Boston ...
The federal government, through its Low-Income Housing Tax Credit program (which in 2012 paid for construction of 90% of all subsidized rental housing in the US), spends $6 billion per year to finance 50,000 low-income rental units annually, with median costs per unit for new construction (2011–2015) ranging from $126,000 in Texas to $326,000 ...
The HUD figure, which is based on Census data for typical apartment rents in an area, is used to ensure landlords cannot overcharge low-income residents with housing choice vouchers.