Code of Federal Regulations (alpha)

CFR /  Title 12  /  Part 1282  /  Sec. 1282.17 Affordability--Income level definitions--family size andtenants).

In determining whether a dwelling unit is affordable where income information (and family size, for rental housing) is known to the Enterprise, the affordability of the unit shall be determined as follows:

(a) Moderate-income means:

(1) In the case of owner-occupied units, income not in excess of 100 percent of area median income; and

(2) In the case of rental units, where the income of actual or prospective tenants is available, income not in excess of the following percentages of area median income corresponding to the following family sizes: ------------------------------------------------------------------------

Percentage of

Number of persons in family area median

income------------------------------------------------------------------------1....................................................... 702....................................................... 803....................................................... 904....................................................... 1005 or more............................................... *------------------------------------------------------------------------*100% plus (8% multiplied by the number of persons in excess of 4).

(b) Low-income (80%) means:

(1) In the case of owner-occupied units, income not in excess of 80 percent of area median income; and

(2) In the case of rental units, where the income of actual or prospective tenants is available, income not in excess of the following percentages of area median income corresponding to the following family sizes: ------------------------------------------------------------------------

Percentage of

Number of persons in family area median

income------------------------------------------------------------------------1....................................................... 562....................................................... 643....................................................... 724....................................................... 805 or more............................................... *------------------------------------------------------------------------*80% plus (6.4% multiplied by the number of persons in excess of 4).

(c) Low-income (60%) means:

(1) In the case of owner-occupied units, income not in excess of 60 percent of area median income; and

(2) In the case of rental units, where the income of actual or prospective tenants is available, income not in excess of the following percentages of area median income corresponding to the following family sizes: ------------------------------------------------------------------------

Percentage of

Number of persons in family area median

income------------------------------------------------------------------------1....................................................... 422....................................................... 483....................................................... 544....................................................... 60

5 or more............................................... *------------------------------------------------------------------------*60% plus (4.8% multiplied by the number of persons in excess of 4).

(d) Very low-income means:

(1) In the case of owner-occupied units, income not in excess of 50 percent of area median income; and

(2) In the case of rental units, where the income of actual or prospective tenants is available, income not in excess of the following percentages of area median income corresponding to the following family sizes: ------------------------------------------------------------------------

Percentage of

Number of persons in family area median

income------------------------------------------------------------------------1....................................................... 352....................................................... 403....................................................... 454....................................................... 505 or more............................................... *------------------------------------------------------------------------*50% plus (4.0% multiplied by the number of persons in excess of 4).

(e) Extremely low-income means:

(1) In the case of owner-occupied units, income not in excess of 30 percent of area median income; and

(2) In the case of rental units, where the income of actual or prospective tenants is available, income not in excess of the following percentages of area median income corresponding to the following family sizes: ------------------------------------------------------------------------

Percentage of

Number of persons in family area median

income------------------------------------------------------------------------1....................................................... 212....................................................... 243....................................................... 274....................................................... 305 or more............................................... *------------------------------------------------------------------------*30% plus (2.4% multiplied by the number of persons in excess of 4).