Friday, May 14, 2010

Updated: Hardest Hit Income Limits Recommendation Using New FY 2010 Median Family Incomes.

 Update: I added a Hardest Hit column to far right of table to identify the 16 hardest hit counties; link remains the same.

I previously posted a summary of the Bend morning Hardest Hit outreach session, including the suggestion that income limits be set at the highest of either 120% of the STATEWIDE median family income OR 120% of the LOCAL median family income. (This would be rather than a straight 120% of statewide median income eligibility level that has been previously discussed). 

I created a 2 page PDF table HERE that shows the results of this recommendation using the NEW FY 2010 HUD median family incomes just published today [Friday]. (Feel free to double check my math, which includes use of a rounding to nearest $100 formula; if you discover any problems please send me an email or post a comment).

Eligibility Results: Three Metro Areas Get Up to 120% of Local MFI, All other Counties REMAIN at Same Level--ABOVE 120% of Local Median Income.
You can see that all counties would be at LEAST 120%, with rural counties as high as 172% of their LOCAL median family incomes. Without the recommended changes rural county %'s of LOCAL median family incomes would stay the same BUT counties in the Bend, Corvallis and Portland MSA's would be BELOW 120% of their LOCAL median family incomes.

Originally created and posted on the Oregon Housing Blog.

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