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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.
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Georgia is the thirty-third-richest (33rd) state in the United States of America, with a median household income of US$46,007 (2011). [ 1 ] Georgia counties ranked by per capita income
For single-family home loans this year, the FHA loan limits range from a floor of $498,257 to a ceiling of $1,149,835. More expensive areas outside the continental U.S. have even higher FHA loan ...
This is a list of U.S. states, territories, and Washington, D.C. by income. Data is given according to the 2023 American Community Survey (ACS) 1-Year Estimates, except for the American Samoa , Guam , the Northern Mariana Islands and the U.S. Virgin Islands , for which the data comes from 2010, as ACS does not operate in these areas.
The highest incomes to be considered middle class are in Hawaii, at $82,630, and then New York and Washington, D.C., where the minimum middle class annual income is $81,396.