§1282.17. Affordability—Income level definitions—family size and income known (owner-occupied units, actual tenants, and prospective tenants).
12 C.F.R. § 1282.17
In determining whether a dwelling unit is affordable where income information (and family size, for rental units) is known to the Enterprise, the affordability of the unit shall be determined as follows:
Moderate-income— means:
In the case of owner-occupied units, income not in excess of 100 percent of area median income; and
In the case of rental units, where the income of actual or prospective tenants is available, income not in excess of the following percentages of area median income corresponding to the following family sizes:
Low-income (80%)— means:
In the case of owner-occupied units, income not in excess of 80 percent of area median income; and
In the case of rental units, where the income of actual or prospective tenants is available, income not in excess of the following percentages of area median income corresponding to the following family sizes:
Low-income (60%)— means:
In the case of owner-occupied units, income not in excess of 60 percent of area median income; and
In the case of rental units, where the income of actual or prospective tenants is available, income not in excess of the following percentages of area median income corresponding to the following family sizes:
Very low-income— means:
In the case of owner-occupied units, income not in excess of 50 percent of area median income; and
In the case of rental units, where the income of actual or prospective tenants is available, income not in excess of the following percentages of area median income corresponding to the following family sizes:
Extremely low-income— means:
In the case of owner-occupied units, income not in excess of 30 percent of area median income; and
In the case of rental units, where the income of actual or prospective tenants is available, income not in excess of the following percentages of area median income corresponding to the following family sizes:
Notes, amendments, and revision history
Amendments
[75 FR 55930, Sept. 14, 2010, as amended at 80 FR 53432, Sept. 3, 2015]
Authority
Authority: 12 U.S.C. 4501, 4502, 4511, 4513, 4526, 4561-4566.
Source
Source: 75 FR 55930, Sept. 14, 2010, unless otherwise noted.
Amendments
[75 FR 55930, Sept. 14, 2010, as amended at 80 FR 53432, Sept. 3, 2015]