Program Guidelines
Administrative Rules Income, Rent, and Utilities
Rental Affordable Units
2024 Maximum Monthly Rent
Rents listed below assume owner pays all utilities. If tenant will be responsible for some or all utilities, subtract the utility allowance from the maximum rent listed below.
| Bedrooms | 60% MFI | 80% MFI |
|---|---|---|
| 0 (studio) | $1,239 | $ 1,652 |
| 1 | $1,327 | $ 1,770 |
| 2 | $1,593 | $ 2,124 |
| 3 | $1,841 | $ 2,455 |
| 4 | $ 2,053 | $ 2,738 |
| 5 | $ 2,266 | $ 3,022 |
Maximum Annual Household Income
Program eligibility is determined using income limits. Household size refers to the number of people in the household. For each affordability level of 60% and 80% MFI, potentially eligible households for a program would have an annual income that can be up to, but not exceeding, the income limit for the unit type at the time of lease-up.
Tenants that qualify at lease-up but whose income rises while living in the unit will continue to qualify so long as their income does not rise to more than the maximum income per unit type for:
- 100% MFI while residing in a unit restricted at 60% MFI, or
- 120% MFI while residing in a unit restricted at 80% MFI
Homeownership Affordable Units
2024 Maximum Purchase Price Caps
For all unit types with same number of bedrooms.
| Bedrooms | 60% MFI | 80% MFI |
|---|---|---|
| 0 (studio) | $ 161,331 | $256,936 |
| 1 | $ 170,701 | $273,011 |
| 2 | $ 210,368 | $330,530 |
| 3 | $ 242,730 | $379,129 |
| 4 | $ 271,890 | $428,622 |
| 5 | $ 300,729 | $480,154 |
Maximum Income for IH Homeownership Units
Program eligibility is determined using income limits. Household size refers to the number of people in the household. For each affordability level of 60% and 80% MFI, potentially eligible households for a program would have an annual income that can be up to, but not exceeding, the following income limit for their household size at the time of purchase.
| Unit Affordability Level | Household Income MFI Cap |
|---|---|
| 60% MFI | 80% MFI |
| 80% MFI | 100% MFI |