On Wednesday, April 24th, 2019 HUD released the 2019 Income Limits.
The Department of Housing and Urban Development (HUD) sets income limits that determine eligibility for assisted housing programs including the Public Housing, Section 8 project-based, Section 8 Housing Choice Voucher, Section 202 housing for the elderly, and Section 811 housing for persons with disabilities programs. HUD develops income limits based on Median Family Income estimates and Fair Market Rent area definitions for each metropolitan area, parts of some metropolitan areas, and each non-metropolitan county.
To access the new Income Limits, click here to visit the HUD USER website.
These 2019 Income limits are effective 4/24/2019.
Multifamily Tax Subsidy Projects (MTSP) Income Limits were developed to meet the requirements established by the Housing and Economic Recovery Act of 2008 (Public Law 110-289) that allows 2007 and 2008 projects to increase over time. The MTSP income Limits are used to determine qualification levels as well as set maximum rental rates for projects funded with tax credits authorized under section 42 of the Internal Revenue Code (the Code) and projects financed with tax exempt housing bonds issued to provide qualified residential rental development under section 142 of the Code.
Note: The limits identified in the MTSP Income Limits tables and MTSP Documentation system as “HERA Special” Income Limits are only for use by projects in service in 2007 or 2008
To access the Multifamily Tax Subsidy Income Limits, click here.
Per IRS Revenue Ruling 94-57, income limits must be implemented on the effective date or no more than 45 days from the published date. This means this year’s limits must be implemented no later than June 8, 2019.