Code of Federal Regulations (Last Updated: May 6, 2024) |
Title 12 - Banks and Banking |
Chapter XII - Federal Housing Finance Agency |
SubChapter E - Housing Goals and Mission |
Part 1282 - Enterprise Housing Goals and Mission |
Subpart B - Housing Goals |
§ 1282.18 - Affordability - Income level definitions - family size not known (actual or prospective tenants).
-
§ 1282.18 Affordability - Income level definitions - family size not known (actual or prospective tenants).
In determining whether a rental unit is affordable where family size is not known to the Enterprise, income will be adjusted using unit size, and affordability determined as follows:
(a) For moderate-income, the income of prospective tenants shall not exceed the following percentages of area median income with adjustments, depending on unit size:
Unit size Percentage of area median income Efficiency 70 1 bedroom 75 2 bedrooms 90 3 bedrooms or more * (b) For low-income (80%), income of prospective tenants shall not exceed the following percentages of area median income with adjustments, depending on unit size:
Unit size Percentage of area median income Efficiency 56 1 bedroom 60 2 bedrooms 72 3 bedrooms or more * (c) For low-income (60%), income of prospective tenants shall not exceed the following percentages of area median income with adjustments, depending on unit size:
Unit size Percentage of area median income Efficiency 42 1 bedroom 45 2 bedrooms 54 3 bedrooms or more * (d) For very low-income, income of prospective tenants shall not exceed the following percentages of area median income with adjustments, depending on unit size:
Unit size Percentage of area median income Efficiency 35 1 bedroom 37.5 2 bedrooms 45 3 bedrooms or more * (e) For extremely low-income, income of prospective tenants shall not exceed the following percentages of area median income with adjustments, depending on unit size:
Unit size Percentage of area median income Efficiency 21 1 bedroom 22.5 2 bedrooms 27 3 bedrooms or more *