Title 24: Housing and Urban Development
PART 81—THE SECRETARY OF HUD'S REGULATION OF THE FEDERAL NATIONAL MORTGAGE ASSOCIATION (FANNIE MAE) AND THE FEDERAL HOME LOAN MORTGAGE CORPORATION (FREDDIE MAC)
Subpart B—Housing Goals
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§ 81.18 Affordability—Income level definitions—family size not known (actual or prospective tenants).
In determining whether a rental unit is affordable to very-low, low-, or moderate-income families where family size is not known to the GSE, income will be adjusted using unit size, and affordability determined as follows:
(a) For moderate-income, the income of prospective tenants shall not exceed the following percentages of area median income with adjustments, depending on unit size:
------------------------------------------------------------------------ Percentage of area Unit size median income------------------------------------------------------------------------Efficiency................................................ 701 bedroom................................................. 752 bedrooms................................................ 903 bedrooms or more........................................ (*)------------------------------------------------------------------------*104% plus (12% multiplied by the number of bedrooms in excess of 3).
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(b) For low-income, income of prospective tenants shall not exceed the following percentages of area median income with adjustments, depending on unit size:
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------------------------------------------------------------------------ Percentage of area Unit size median income------------------------------------------------------------------------Efficiency................................................ 561 bedroom................................................. 602 bedrooms................................................ 723 bedrooms or more........................................ (*)------------------------------------------------------------------------*83.2% plus (9.6% multiplied by the number of bedrooms in excess of 3).
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(c) For very-low-income, income of prospective tenants shall not exceed the following percentages of area median income with adjustments, depending on unit size:
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------------------------------------------------------------------------ Percentage of area Unit size median income------------------------------------------------------------------------Efficiency................................................ 421 bedroom................................................. 452 bedrooms................................................ 543 bedrooms or more........................................ (*)------------------------------------------------------------------------*62.4% plus (7.2% multiplied by the number of bedrooms in excess of 3).
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(d) For especially-low-income, income of prospective tenants shall not exceed the following percentages of area median income with adjustments, depending on unit size:
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------------------------------------------------------------------------ Percentage of area Unit size median income------------------------------------------------------------------------Efficiency................................................ 351 bedroom................................................. 37.52 bedrooms................................................ 453 bedrooms or more........................................ (*)------------------------------------------------------------------------* 52% plus (6.0% multiplied by the number of bedrooms in excess of 3).
