Sentences with phrase «area median gross income»
Difficult Development Area A difficult development area is any area designated by the U.S. Department of Housing & Urban Development, which has high construction, land or utility costs relative to area median gross income.
http://www.nalhfa.org/
Under the test, a building is generally a qualified low - income building if at least 20 percent of the units are both rent restricted and are occupied by tenants whose income is less than or equal to 50 percent of area median gross income.
Not exact matches
The gross rents (rent plus utilities) will range from $ 638 to $ 1,125 a month, and will be affordable to households with incomes at or below 80 % of area median income.
The gross rents (rent plus utilities) will range from $ 531 to $ 725 a month, and will be affordable to households with incomes at or below 60 % of the area median income.
The estimated median income for a household is about $ 30,000, which is actually a very reasonable amount to live on in an area where the median home value is just $ 87,000 and the median gross rent is around $ 600.00.
Total gross family income can not exceed 80 % of the area median income (Mortgage Revenue Bond limits) based on family size for the county the borrower resides in at the time of enrollment in the First Home Club Program
The estimated median income for a household is about $ 30,000, which is actually a very reasonable amount to live on in an area where the median home value is just $ 87,000 and the median gross rent is around $ 600.00.