HUD has released the estimated median family incomes (MFIs) and income limits for Fiscal Year (FY) 2009. MFIs are used as the basis for income limits in several HUD programs (including the Public Housing, Housing Choice Voucher, CDBG, and HOME programs), as well as in programs run by the Department of Agriculture, the Department of Treasury, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, and Government Sponsored Enterprises.
The FY 2009 estimates are calculated for 532 metropolitan and 2,043 nonmetropolitan areas in the U.S. and its territories, using the Fair Market Rent area definitions applied in the Section 8 Housing Choice Voucher program. The FY 2009 MFIs are derived from 2000 Census data updated with local and state American Community Survey 2005-2007 multiyear data.
In addition to the traditional Income Limits described above, HUD has developed a new set of income limits specifically for projects that rely upon Internal Revenue Code Section 42 Low-Income Housing Tax Credits and Section 142 projects financed with tax-exempt housing bonds. Projects in these two categories are now referred to by HUD as Multifamily Tax Subsidy Projects (MTSPs).