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NAHMA HUD Update: HOME and HTF Income and Rent Limits Effective July 1, 2020

An announcement from HUD Exchange regarding FY 2020 Income and Rent Limits going in effect on July 1, 2020, for the HOME Investment Partnerships Program and the Housing Trust Fund Program.

NAHMA HUD Update: HOME and HTF Income and Rent Limits

Effective July 1, 2020

Below, please find an announcement from HUD Exchange regarding FY 2020 Income and Rent Limits going in effect on July 1, 2020, for the HOME Investment Partnerships Program and the Housing Trust Fund Program.

The HOME Income Limits are calculated using the same methodology that HUD uses for calculating the income limits for the Section 8 program. The Housing Trust Fund Income Limits are calculated by using the formula that HUD uses for calculating the income limits for the Section 8 program (these limits are based on HUD estimates of median family income, with adjustments based on family size) and the Federal Poverty Line as determined by the U.S. Department of Health and Human services, published annually in the Federal Register.

The maximum HOME rents are calculated by using the lesser of the fair market rent for existing housing for comparable units in the area as established by HUD, or a rent that does not exceed 30 percent of the adjusted income of a family whose annual income equals 65 percent of the median income for the area, as determined by HUD, with adjustments for number of bedrooms in the unit. The HOME rent limits provided by HUD will include average occupancy per unit and adjusted income assumptions.

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