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Maximum Affordable Gross Rent and Income Limits

Overview

The following tables, effective April 14, 2017 (until superseded),  are used by housing developers to determine eligibility for CHFA bond financing and tax credit programs.  In addition, the tables may be used by Developers, Management Agents, and Owners to determine affordable housing occupant eligibility (based on income) and rent limits.

Please see Special Income Limits, at the bottom of this page, for Housing and Economic Recovery Act (HERA) "impacted area" income limits, Held Harmless area income limits, and Section 8 income limits.

These newly released Income Limits must be implemented no later than May 29, 2017 for Low-Income Housing Tax Credit properties.

 

Please select the city/town where the development is located: 

 


 

Andover

Metro Area:Hartford-West Hartford-East Hartford, CT HUD Metro FMR Area
Median Income:$89,700.00

 

  • Tax-Exempt Bond Financing Income/Rent Limits

Developers may be eligible for Tax-Exempt Bond Financing if 20% of a development’s units are occupied by residents with gross incomes 80% or less than the area median gross income (AMGI), adjusted for family size.  The table below lists the occupant maximum income limits and unit rent limit associated with Tax-Exempt Bond Financing.

Median Income:$89,700.00
80% of Median Income$71,760.00
150% of Median Income$134,550.00
Qualified   Rent$1,794.00

 

 

  • Low-Income Housing Tax Credit (LIHTC) 20%-50% Income/Rent Limits

Developers may be eligible for LIHTC and / or Tax-Exempt Bond Financing if 20% of a development’s units are occupied by residents with gross incomes 50% or less than the area median gross income (AMGI), adjusted for family size (20-50 test).  The table below lists the occupant maximum income limits and unit rent limits associated with LIHTC 20% - 50% financing.

LIHTC 20-50 Rent/Income Limitsmin. 20% of Units @ 50% HUD median income
Unit Size EquivalentPersons Per UnitHUD  Maximum IncomeMaximum Rent per Month
0 Bedroom1 $32,100.00$802.00
1 Bedroom$860.00
2  $36,700.00
2 Bedrooms3  $41,300.00$1,032.00
4  $45,850.00
3 Bedrooms$1,192.00
5$49,550.00
4 Bedrooms6  $53,200.00$1,330.00
 7  $56,900.00
Unit Size EquivalentPersons Per UnitHUD Maximum IncomeMaximum Rent per Month

 

 

  • Low-Income Housing Tax Credit (LIHTC) 40%-60% Income/Rent Limits

Developers may be eligible for LIHTC and / or Tax-Exempt Bond Financing if 40% of a development’s units are occupied by residents with gross incomes 60% or less than  the area median gross income (AMGI), adjusted for family size (40-60 test).  The table below lists the occupant maximum income limits and unit rent limits associated with LIHTC 40% - 60% financing.

LIHTC 40-60 Rent/Income Limitsmin. 40% of Units @ 60% HUD median income
Unit Size EquivalentPersons Per UnitHUD  Maximum IncomeMaximum Rent per Month
0 Bedroom1 $38,520.00$963.00
1 Bedroom$1,032.00
2  $44,040.00
2 Bedrooms3  $49,560.00$1,239.00
4  $55,020.00
3 Bedrooms$1,431.00
5$59,460.00
4 Bedrooms6  $63,840.00$1,596.00
 7  $68,280.00
Unit Size EquivalentPersons Per UnitHUD Maximum IncomeMaximum Rent per Month

 

 

  • Deep Target Financing Income/Rent Limits

Developers may be eligible for “Deep Target” financing if units are occupied by residents with gross incomes 25% or less than the area median gross income (AMGI), adjusted for family size.  The table below lists the occupant maximum income limits and unit rent limits associated with Deep Target Financing.

Deep Targeting Rent/Income Limits25% of Area Median Income
Unit Size EquivalentPersons Per UnitHUD  Maximum IncomeMaximum Rent per Month
0 Bedroom1 $16,050.00$401.00
1 Bedroom$430.00
2  $18,350.00
2 Bedrooms3  $20,650.00$516.00
4  $22,925.00
3 Bedrooms$596.00
5$24,775.00
4 Bedrooms6  $26,600.00$665.00
 7  $28,450.00
Unit Size EquivalentPersons Per UnitHUD Maximum IncomeMaximum Rent per Month

 


Special Income Limits

Developers, Management Agents and Owners interested in learning the special income limits applicable to impacted areas in Connecticut under the Housing and Economic Recovery Act, Held Harmless Rule, and to Section 8 housing programs can download the documents below.

Special Income Limits Found: 8  matches     Displaying: 1 - 8 
FileSizeType
2017 Income Limit Area Definitions
These are the 2017 Income Limit Area Definitions to be used in conjunction with the 2017 Income Limits that are effective April 14, 2017 until superseded.
41Kpdf

2017 Colchester-Lebanon HMFA Income Limits - HERA
These are the 2017 Colchester-Lebanon Income Limits - HERA, effective April 14, 2017 until superseded, for those developments that Placed in Service ON OR BEFORE December 31. 2008.
58Kpdf

2017 Danbury HMFA Income Limits - Held Harmless to FY2014
These are the 2017 Danbury HMFA Income Limits - Held Harmless to FY2014, effective April 14, 2017 until superseded, for those developments that Placed in Service ON January 1, 2009 thru and including March 5, 2015.
58Kpdf

2017 Danbury HMFA Income Limits - Held Harmless to FY2015
These are the 2017 Danbury HMFA Income Limits - Held Harmless to FY2015, effective April 14, 2017 until superseded, for those developments that Placed in Service ON March 6, 2015 thru and including March 27, 2016.
58Kpdf

2017 Milford-Ansonia Seymour HMFA Income Limits - Held Harmless to FY2016
These are the 2017 Milford-Ansonia-Seymour HMFA Income Limits - Held Harmless to FY2016, effective April 14, 2017 until superseded, for those developments that Placed in Service ON January 1, 2009 thru and including April 13, 2017.
58Kpdf

2017 Milford-Ansonia Seymour HMFA Income Limits - HERA
These are the 2017 Milford-Ansonia-Seymour HMFA Income Limits - HERA. effective April 14, 2017 until superseded, for those developments that Placed in Service ON OR BEFORE December 31, 2008.
58Kpdf

2017 Section 8 Income Limits
These are the 2017 Section 8 Income Limits, effective April 14, 2017 until superseded.
13Kpdf

2017 Stamford-Norwalk HMFA Income Limits - HERA
These are the 2017 Stamford-Norwalk HMFA Income Limits - HERA. effective April 14, 2017 until superseded, for those developments that Placed in Service ON OR BEFORE December 31, 2008.
58Kpdf
FileSizeType
Found: 8  matches     Displaying: 1 - 8