MULTIFAMILY TAX SUBSIDY PROJECT INCOME LIMITS

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2 MULTIFAMILY TAX SUBSIDY PROJECT INCOME LIMITS This chart is provided as a guide only for the following programs: Low Income Housing Tax Credit (LIHTC) Hula Mae Multi-Family Bonds (HMMF) Rental Housing Revolving Fund (RHRF) Rental Assistance Revolving Fund (RARF) You are responsible to ensure the accuracy of the numbers. MAXIMUM INCOME BY HOUSEHOLD 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person Honolulu, HI 30% of Median $21,990 $25,110 $28,260 $31,380 $33,900 $36,420 $38,940 $41,430 40% of Median $29,320 $33,480 $37,680 $41,840 $45,200 $48,560 $51,920 $55,240 50% of Median $36,650 $41,850 $47,100 $52,300 $56,500 $60,700 $64,900 $69,050 60% of Median $43,980 $50,220 $56,520 $62,760 $67,800 $72,840 $77,880 $82,860 75% of Median* $54,975 $62,775 $70,650 $78,450 $84,750 $91,050 $97,350 $103,575 80% of Median* $58,640 $66,960 $75,360 $83,680 $90,400 $97,120 $103,840 $110, % of Median* $73,300 $83,700 $94,200 $104,600 $113,000 $121,400 $129,800 $138, % of Median* $80,630 $92,070 $103,620 $115,060 $124,300 $133,540 $142,780 $151, % of Median* $102,620 $117,180 $131,880 $146,440 $158,200 $169,960 $181,720 $193,340 Hawaii 30% of Median $15,570 $17,790 $20,010 $22,230 $24,030 $25,800 $27,570 $29,370 40% of Median $20,760 $23,720 $26,680 $29,640 $32,040 $34,400 $36,760 $39,160 50% of Median $25,950 $29,650 $33,350 $37,050 $40,050 $43,000 $45,950 $48,950 60% of Median $31,140 $35,580 $40,020 $44,460 $48,060 $51,600 $55,140 $58,740 75% of Median* $38,925 $44,475 $50,025 $55,575 $60,075 $64,500 $68,925 $73,425 80% of Median* $41,520 $47,440 $53,360 $59,280 $64,080 $68,800 $73,520 $78, % of Median* $51,900 $59,300 $66,700 $74,100 $80,100 $86,000 $91,900 $97, % of Median* $57,090 $65,230 $73,370 $81,510 $88,110 $94,600 $101,090 $107, % of Median* $72,660 $83,020 $93,380 $103,740 $112,140 $120,400 $128,660 $137,060 Kauai 30% of Median $17,940 $20,490 $23,040 $25,590 $27,660 $29,700 $31,740 $33,780 40% of Median $23,920 $27,320 $30,720 $34,120 $36,880 $39,600 $42,320 $45,040 50% of Median $29,900 $34,150 $38,400 $42,650 $46,100 $49,500 $52,900 $56,300 60% of Median $35,880 $40,980 $46,080 $51,180 $55,320 $59,400 $63,480 $67,560 75% of Median* $44,850 $51,225 $57,600 $63,975 $69,150 $74,250 $79,350 $84,450 80% of Median* $47,840 $54,640 $61,440 $68,240 $73,760 $79,200 $84,640 $90, % of Median* $59,800 $68,300 $76,800 $85,300 $92,200 $99,000 $105,800 $112, % of Median* $65,780 $75,130 $84,480 $93,830 $101,420 $108,900 $116,380 $123, % of Median* $83,720 $95,620 $107,520 $119,420 $129,080 $138,600 $148,120 $157,640 Maui 30% of Median $18,090 $20,670 $23,250 $25,830 $27,900 $29,970 $32,040 $34,110 40% of Median $24,120 $27,560 $31,000 $34,440 $37,200 $39,960 $42,720 $45,480 50% of Median $30,150 $34,450 $38,750 $43,050 $46,500 $49,950 $53,400 $56,850 60% of Median $36,180 $41,340 $46,500 $51,660 $55,800 $59,940 $64,080 $68,220 75% of Median* $45,225 $51,675 $58,125 $64,575 $69,750 $74,925 $80,100 $85,275 80% of Median* $48,240 $55,120 $62,000 $68,880 $74,400 $79,920 $85,440 $90, % of Median* $60,300 $68,900 $77,500 $86,100 $93,000 $99,900 $106,800 $113, % of Median* $66,330 $75,790 $85,250 $94,710 $102,300 $109,890 $117,480 $125, % of Median* $84,420 $96,460 $108,500 $120,540 $130,200 $139,860 $149,520 $159,180 *For purposes of the Rental Housing Revolving Fund Program only. NOTE: This chart is provided as a guide only. You are responsible to ensure the accuracy of the numbers. HUD Income 2017 Effective Date: April 14, 2017 Page 1 of 2

3 MULTIFAMILY TAX SUBSIDY PROJECT INCOME LIMITS This chart is provided as a guide only for the following programs: Low Income Housing Tax Credit (LIHTC) Hula Mae Multi-Family Bonds (HMMF) Rental Housing Revolving Fund (RHRF) Rental Assistance Revolving Fund (RARF) You are responsible to ensure the accuracy of the numbers. MAXIMUM TENANT CONTRIBUTION (Incl. Utilities) CALCULATED BY NUMBER OF BEDROOMS Area Studio 1 Bdrm 2 Bdrm 3 Bdrm 4 Bdrm Honolulu, HI 30% of Median $549 $588 $706 $816 $910 40% of Median $733 $785 $942 $1,088 $1,214 50% of Median $916 $981 $1,177 $1,360 $1,517 60% of Median $1,099 $1,177 $1,413 $1,632 $1,821 75% of Median* $1,374 $1,471 $1,766 $2,040 $2,276 80% of Median* $1,466 $1,570 $1,884 $2,176 $2, % of Median* $1,832 $1,962 $2,355 $2,720 $3, % of Median* $2,015 $2,158 $2,590 $2,992 $3, % of Median* $2,565 $2,747 $3,297 $3,808 $4,249 Hawaii 30% of Median $389 $417 $500 $578 $645 40% of Median $519 $556 $667 $771 $860 50% of Median $648 $695 $833 $963 $1,075 60% of Median $778 $834 $1,000 $1,156 $1,290 75% of Median* $973 $1,042 $1,250 $1,445 $1,612 80% of Median* $1,038 $1,112 $1,334 $1,542 $1, % of Median* $1,297 $1,390 $1,667 $1,927 $2, % of Median* $1,427 $1,529 $1,834 $2,120 $2, % of Median* $1,816 $1,946 $2,334 $2,698 $3,010 Kauai 30% of Median $448 $480 $576 $665 $742 40% of Median $598 $640 $768 $887 $990 50% of Median $747 $800 $960 $1,109 $1,237 60% of Median $897 $960 $1,152 $1,331 $1,485 75% of Median* $1,121 $1,200 $1,440 $1,664 $1,856 80% of Median* $1,196 $1,281 $1,536 $1,775 $1, % of Median* $1,495 $1,601 $1,920 $2,218 $2, % of Median* $1,644 $1,761 $2,112 $2,440 $2, % of Median* $2,093 $2,241 $2,688 $3,106 $3,465 Maui 30% of Median $452 $484 $581 $671 $749 40% of Median $603 $646 $775 $895 $999 50% of Median $753 $807 $968 $1,119 $1,248 60% of Median $904 $969 $1,162 $1,343 $1,498 75% of Median* $1,130 $1,211 $1,453 $1,679 $1,873 80% of Median* $1,206 $1,292 $1,550 $1,791 $1, % of Median* $1,507 $1,615 $1,937 $2,238 $2, % of Median* $1,658 $1,776 $2,131 $2,462 $2, % of Median* $2,110 $2,261 $2,712 $3,134 $3,496 *For purposes of the Rental Housing Revolving Fund Program only. NOTE: This chart is provided as a guide only. You are responsible to ensure the accuracy of the numbers. HUD Income 2017 Effective Date: April 14, 2017 Page 2 of 2

4 U. S. Department of Housing and Urban Development Special Attention of: NOTICE PDR Regional Directors, Field Office Directors, Economists, Public & Indian Housing Issued: April 14, 2017 Division Directors, Multifamily Hub Directors, Expires: Effective until superseded Multifamily Program Center Directors Subject: Estimated Median Family Incomes for Fiscal Year (FY) 2017 This memorandum transmits median family income (MFI) estimates for FY They are calculated for each metropolitan and nonmetropolitan area using the Fair Market Rent (FMR) area definitions applied in the Section 8 Housing Choice Voucher Program. The national MFI for the United States for FY 2017 is $68,000, an increase of 3.5 percent compared to the national MFI for FY There were no additional changes to the geographic area definitions from the many changes incorporated in the FY 2016 Medians. The , 5-year American Community Survey (ACS) and Puerto Rico Community Survey (PRCS) income data are the basis of FY 2017 Income Limits for all areas of geography, except for the U.S. Virgin Islands and the Pacific Islands. The U.S. Virgin Islands and the Pacific Islands (Guam, American Samoa and the Northern Marianas) are based on 2010 Decennial Census data which is the most current information available. The Consumer Price Index forecast published by the Congressional Budget Office (CBO) is used to bring the ACS data forward from mid-2014 to the mid-point of the fiscal year, April, The decennial data used for the U.S. Virgin Islands and the Pacific Islands is trended forward using the change in national MFI between 1999 (which is the year of the income in the decennial census) and the MFI for FY In areas where there is a year ACS estimate of MFI, the 1-year estimate is used in place of the 5-year estimate unless the margin of error for the 1-year estimate is greater than half the income estimate itself.

5 An explanation of the procedures used to develop FY 2017 MFIs and related documents are attached. Attachment 1 provides an explanation of the estimation methods used. Attachment 2 provides state-level MFI estimates. The Income Limits Briefing Material is provided with this notice. The Section 8 Income Limits and income limits for the Section 221(d)(3) Below Market Interest Rate (BMIR) rental program, the Section 235 program, and the Section 236 program, that are not part of this transmittal notice, may be provided to you or your staff electronically. Please note that the use of the HUD MFI estimates is subject to individual program guidelines covering definitions of income and family, family size, effective dates, and other factors. If you have any questions concerning these matters, please refer them to our website at HUD MFI estimates are also available at the Department's Internet site, which provides a menu from which you may select the year and type of data of interest 2 Attachments /s/ Matthew E. Ammon General Deputy Assistant Secretary for Policy Development and Research

6 3 ATTACHMENT 1 HUD PROCEDURE FOR ESTIMATING FY 2017 MEDIAN FAMILY INCOMES The FY 2017 Median Family Income (MFI) estimates, which HUD is publishing at this time, use the 5-year income data from 2010 to These 5-year aggregations, covering surveys administered in 2010 through 2014, provided income data for most areas of geography 1. HUD uses Consumer Price Index (CPI) data to inflate the American Community Survey (ACS) data from annual 2014 to the midpoint of FY 2017, based on a CPI forecast, published by the Congressional Budget Office (CBO) in January Separate HUD MFI estimates are calculated for all Metropolitan Statistical Areas (MSAs), HUD Metro FMR Areas, and nonmetropolitan counties. As mentioned above, HUD uses the year ACS data in the calculation process for the FY 2017 MFIs. Specifically, for each metropolitan area, subarea of a metropolitan area, and nonmetropolitan county, 5-year ACS data is used as the new basis for calculating MFI estimates. This is the way it has been done since the 5-year ACS data first became available, for use in the FY 2011 MFI estimates. In areas where there is a valid 1-year ACS survey median family income result, HUD endeavors to use this data as well to take advantage of more recent survey information. By using both the 5-year data and the 1-year data, where available, HUD is establishing a new basis for MFI estimates while also capturing the most recent information available. MFI estimates are based on the most currently available data, but the delay in collecting and reporting the survey data mean that 2014 ACS income data is used for FY 2017 estimates that have an as-of date of mid A new and annually revised trend factor based on the CBO forecast of CPI is used to inflate the estimate from mid-2014 to April, 2017 (or mid FY 2017). Median family 2 incomes start with the development of estimates of MFI for the metropolitan areas and non-metropolitan FMR/income limit areas (including U.S. territories). Attachment 2 provides a detailed explanation of how median family income estimates are calculated. The major steps are as follows: HUD uses year ACS estimates of median family income calculated for the areas used for FMRs and income limits as the new basis for FY In areas where there is also a year ACS estimate of median family income, the 1-year income data is used if the estimate is greater than twice the margin of error estimate. Once the appropriate 2014 ACS data has been selected, the data are set as of April 2017 using the CPI forecast by the CBO. 2 Family refers to the Census definition of a family, which is a householder with one or more other persons living in the same household who are related to the householder by birth, marriage, or adoption. The definition of family excludes one-person households and multi-person households of unrelated individuals.

7 4 All places: All estimates (using either 5-year data or 5-year data augmented with 1-year data) are updated with CPI from mid-2014 to April, For the non-puerto Rico Insular Areas of the United States, 3 which currently lack ACS (or the equivalent Puerto Rico Community Survey in Puerto Rico) coverage, national ACS income changes are used as surrogates to update 2010 Decennial Census data (which collected 2009 incomes). 3 The areas without ACS coverage are the U.S. Virgin Islands, Guam, American Samoa, and the Northern Marianas Islands. Puerto Rico is covered by the ACS-equivalent Puerto Rico Community Survey.

8 5 ATTACHMENT 2 FY 2017 Median Family Incomes for States, Metropolitan and Nonmetropolitan Portions of States FY TOTAL METRO NONMETRO Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia * Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey * New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island * South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming US * US non-metropolitan median