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HUD Releases FY2013 Income Limits - December 11, 2012
Submitted by admin on Tue, 12/11/2012 - 2:10pm
HUD issued revised FY2013 income limits effective December 11, 2012, superceding the limits posted on December 4. The FY2013 30%, 50%, 60% and 80% income limits are 1-5% below the FY2012 limits in most areas because HUD is projecting declines in median family incomes. The few areas receiving increases include the Boston-Cambridge-Quincy MSA, where the 80% limit will rise by 3.6% (from $65,000 to $67,350) due to an adjustment for high housing costs and Nantucket (where all limits will rise). The declines in the income limits would have been greater but for a HUD policy that limits annual changes in income limits to 5% (up or down). LIHTC projects are also protected from income limit cuts once they are placed in service.
Massachusetts income limits can be found here.