Friday, March 20, 2009

New Release of Federal Income Limits

Earlier this week, U.S. Department of Housing and Urban development, a.k.a, HUD released its median family income (MFI) limits for the fiscal year of 2009. These limits are the benchmarks for participation in many HUD programs. including Public Housing, Housing Choice Voucher, Community development Block Grants, and HOME programs. But the real significance is how these limits influence other government, financial and private institutions most notably the Department of the Treasury, the Federal Deposit Insurance Corporation,and the Federal Housing Finance Agency. In other words, these limits will be credit factors for individuals, local and state governments.

Because geographical economies vary, limits are divided by county. HUD, after adjustments uses a 3% upward trend for every 1.25 years. As a result the median income for Yolo County has risen to $72, 600 (HUD rounds to the nearest $100) from $51,600 in the 2000 census. Sacramento County has a higher number, but slightly less of an increaserising from $53,800 to $72,800 in the same period. To see how your family incomes fares in your county go to

No comments: