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Code · CFR · Title 12 — Banks and Banking · Part 1282 — Enterprise Housing Goals and Mission · § 1282.17

§ 1282.17. Affordability—Income level definitions—family size and income known (owner-occupied units, actual tenants, and prospective tenants).

486 words·~2 min read·/us/cfr/t12/s§ 1282.17·

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In determining whether a dwelling unit is affordable where income information (and family size, for rental units) is known to the Enterprise, the affordability of the unit shall be determined as follows:
(a)Moderate-income means:
(1)In the case of owner-occupied units, income not in excess of 100 percent of area median income; and
(2)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: Number of persons in family Percentage of area median income 170 280 390 4100 5 or more* *100% plus (8% multiplied by the number of persons in excess of 4).
(b)Low-income (80%) means:
(1)In the case of owner-occupied units, income not in excess of 80 percent of area median income; and
(2)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: Number of persons in family Percentage of area median income 156 264 372 480 5 or more* *80% plus (6.4% multiplied by the number of persons in excess of 4).
(c)Low-income (60%) means:
(1)In the case of owner-occupied units, income not in excess of 60 percent of area median income; and
(2)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: Number of persons in family Percentage of area median income 142 248 354 460 5 or more* *60% plus (4.8% multiplied by the number of persons in excess of 4).
(d)Very low-income means:
(1)In the case of owner-occupied units, income not in excess of 50 percent of area median income; and
(2)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: Number of persons in family Percentage of area median income 135 240 345 450 5 or more* *50% plus (4.0% multiplied by the number of persons in excess of 4).
(e)Extremely low-income means:
(1)In the case of owner-occupied units, income not in excess of 30 percent of area median income; and
(2)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: Number of persons in family Percentage of area median income 121 224 327 430 5 or more* *30% plus (2.4% multiplied by the number of persons in excess of 4). [75 FR 55930, Sept. 14, 2010, as amended at 80 FR 53432, Sept. 3, 2015]
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§ 1282.17
Affordability—Income level definitions—family size and income known (owner-occupied units, actual tenants, and prospective tenants).
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