2013 LIHTC Income Limits Posted
Written by Erik Whitton, Spectrum Enterprises
HUD has published the 2013 income limits which may be found on their website. http://www.huduser.org/portal/datasets/mtsp.html
The effective date of this income limit data set appears to be 12/4/2012. All properties must utilize the new amounts within 45 days. January 18, 2013 would be the deadline.
We urge all properties to update their utility allowances at this time.
I have included a spreadsheet here which may be used to determine 40% income limits as well as rent limits at 40%, 50%, and 60%. On the HUD website you will enter your state and city/county. Once the HUD website provides you with the income limits simply enter the 50% line from the HUD website into yellow shaded row on this spreadsheet and everything else will be computed. Please make sure to double check the results with the 60% income limits on the HUD page and with the limits provided by your state agency!
Some cities and counties have different income limits depending on the property placed in service date. Make sure to review the bottom of the HUD website and select the appropriate income limits based on the placed in service date for each property.
I have compared 2012 limits with 2013 limits in some US markets to see whether limits have increased or decreased.
I have gone back to sample these following areas to see if they have risen or not. The only changes are Baltimore and Omaha.
The following areas have increased:
New York City
The following areas have decreased:
Baltimore, MD ***EDIT*** The amounts stayed the same
Omaha, NE ***EDIT*** The amounts have increased
Little Rock, AR
Los Angeles, CA
Kansas City, KS
St. Louis, MO