§81.17. Affordability—Income level definitions—family size and income known (owner-occupied units, actual tenants, and prospective tenants).
24 C.F.R. § 81.17
In determining whether a dwelling unit is affordable to very-low-, low-, or moderate-income families, where the unit is owner-occupied or, for rental housing, family size and income information for the dwelling unit is known to the GSE, 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— 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:
Very-low-income— 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:
Especially-low-income— means, 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
[60 FR 61888, Dec. 1, 1995, as amended at 65 FR 65089, Oct. 31, 2000]
Authority
Authority: 12 U.S.C. 1451 et seq., 1716-1723h, and 4501-4641; 28 U.S.C. 2461 note; 42 U.S.C. 3535(d) and 3601-3619.
Source
Source: 60 FR 61888, Dec. 1, 1995, unless otherwise noted.
Amendments
[60 FR 61888, Dec. 1, 1995, as amended at 65 FR 65089, Oct. 31, 2000]