Skip to Main Content
Search

The site navigation utilizes arrow, enter, escape, and space bar key commands. Left and right arrows move across top level links and expand / close menus in sub levels. Up and Down arrows will open main level menus and toggle through sub tier links. Enter and space open menus and escape closes them as well. Tab will move on to the next part of the site rather than go through menu items.

 

Income Limits and Gross Rents Look-up

Share
  Print

Maximum Affordable Income Limits and Gross Rents

Overview

HUD released the Section 8 and the Multifamily Tax Subsidy Projects (MTSP) Income Limits with an effective date of April 1, 2018 (until superseded). These income limits are used by housing developers to determine eligibility for CHFA bond financing and tax credit programs. In addition, the tables are also used by developers, property managers, and owners to determine affordable housing occupant eligibility (based on income) and rent limits.

These newly released MTSP Income Limits must be implemented no later than May 16, 2018 for Low-Income Housing Tax Credit properties.

The Consolidated Appropriations Act of 2018 establishes Income Averaging as a new minimum set-aside election for new Low-Income Housing Tax Credit (LIHTC) developments. Rent limits for the 20%, 30%, 40%, 70% and 80% Area Median Income (AMI) bands have been incorporated into a workbook with the AMI bands that have been used in the past (25%, 50% and 60%) by CHFA.

The current Consolidated Application (ConApp) has not yet been revised to accommodate these changes for applicants requesting LIHTCs in conjunction with their CHAMP 12 application to DOH. Therefore, in addition to completing Exhibit 5.1 Rental Income Calculation Sheet in the ConApp workbook you will also need to complete a stand-alone Rental Income Calculation Worksheet for Income Averaging. Applications not contemplating using the income averaging set-aside do not have to complete this worksheet.

Please see Income Limits Information, at the bottom of this page, for the Section 8 Income Limits, the Area Definitions, the Income Limit Workbook and the stand-alone Rental Income Calculation Worksheet for Income Averaging (which includes instructions).

Income Limits Information

2018-Section_8_IncomeLimits

2018 Section 8 Income Limits
These are the 2018 Section 8 Income Limits that are effective April 1, 2018 until superseded.

2018-Income_Limit_Area_Definitions

2018 Income Limit Area Definitions
These are the 2018 Income Limit Area Definitions to be used in conjunction with the 2018 Income Limits that are effective April 1, 2018 until superseded.

MTSP-IncomeLimits-with_IA-2018

2018 MTSP Income Limits for LIHTC developments
These are the 2018 Multifamily Tax Subsidy Projects (MTSP) Income Limits that are effective April 1, 2018. The worksheets contain the Area Median Income bands for utilizing Income Averaging on new LIHTC applications, where applicable.

Rental_Income_Calc._For_Income_Averaging

Rental Income Calculation Worksheet for Income Averaging
This workbook contains a supplemental Exhibit 5.1 which must be submitted with your CHAMP 12 application if you are also seeking Low-Income Housing Tax Credits and plan on utilizing Income Averaging. Instructions are included.

 
 
© 2018 Connecticut Housing Finance Authority. All Rights Reserved
Close