FY 2009 Income Limits Documentation System

FY 2009 Very Low-Income (50%) Income Limits Calculation

The 4-person Very Low-Income Limit (VLIL) is based on 50% of the median family income estimated for the New York, NY HUD Metro FMR. For a discussion, of the estimated median family income please read here.

Once the median family income is estimated and a preliminary 4-person Very Low-Income Limit is calculated (as 50% of median family income) a series of comparisons required by statute are made:

1. High Housing Cost Adjustment: The 4-Person VLIL is increased if it would otherwise be less than the amount at which 35 percent of it equals 85 percent of the annualized two-bedroom Section 8 FMR (this adjusts income limits upward for areas where rental housing costs are unusually high in relation to median income);

2. Low Housing Cost Adjustment:The 4-Person VLIL is reduced to the greater of 80 Percent of the U.S. median family income level, or the amount at which 30 percent of it equals 100 percent of the two-bedroom FMR (this adjusts income limits downward for areas of unusually high median family incomes);

3. State Non-Metro Median Family Income Adjustment: The 4-Person VLIL is also adjusted if it would otherwise be lower than 50% of the State Non-Metro Median Family Income; and,

Lastly, in order to minimize program management problems, HUD has devised and implemented a Hold Harmless policy. That is, income limits will be held at FY 2008 levels for areas where lower income limits would result because of the decreases in median family income estimates (or FMR estimates in areas with the high housing cost adjustment).

The results of the 4-Person Very Low-Income Limit Calculation Process

New York, NY HUD Metro FMR Results

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The estimated FY2009 Median Family Income and preliminary 4-Person Very Low-Income Limit for

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New York, NY HUD Metro FMR are:

1. The High Housing Cost adjustment calculations follow:

   Area	2BR FMR	85% of Annualized 2BR FMR	35% of Preliminary 4P VLIL	Comparison	High Housing Cost Adjustment
   New York, NY HUD Metro FMR				Is < No	No 4 Person VLIL =

2. The Low Housing Cost adjustment calculations follow:

   Area	Annualized 2BR FMR	80% of US Median Income	30% of Preliminary 4P VLIL	Comparisons	Low Housing Cost Adjustment
   New York, NY HUD Metro FMR	* 12 =			Is > No Is > No	No 4 Person VLIL =

3. State non-metro Median Family Income Adjustment
   New York, NY HUD Metro FMR is not subject to the State non-Metro Median Family Income test as there are no non-metro areas to compare to.

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Once the final 4-Person income limit has been established, calculation of income limits for other family sizes is straight-forward. The 1-Person family Income Limit is 70% of the 4-Person Income Limit. The 2-Person family Income Limit is 80% of the 4-Person Income Limit, the 3-Person family Income Limit is 90% of the 4-Person Income Limit, the 5-Person Income Limit is 108% of the 4-Person Income Limit, the 6-Person Family Income Limit is 116% of the 4-Person Income Limit, the 7-Person family Income limit is 124% of the 4-Person Income Limit, and the 8-Person Family Income Limit is 132% of the 4-Person Income Limit. For family sizes larger than 8 persons, the income limit can be calculated by adding an additional eight (8) percent per person to the next lower limit. For example a 9-Person Family Income Limit is 140% (132% + 8%), and so on.

Income Limits are rounded to the nearest $50 and in order to make it easier for those wishing to replicate HUD's calculations, the rounded 4-person income limit is used to calculate other family size income limits instead of the unrounded 4-person income limit.

New York, NY HUD Metro FMR requires no further adjustments due to hold harmless. Therefore, the final FY 2009 Very Low Income Limits are listed below:

Problems or questions? Contact Peter.B.Kahn@hud.gov.