Friday, March 30, 2018

HUD FY 2018 Median Family Incomes Out, Portland Metro Median Family Income UP $6,700/ 9%; Biggest % Increases in 3 Counties Outside of Portland Metro.

This is the first of a series of posts related to the HUD publication of FY 2018 income limits on March 31st (6 months after the start of the fiscal year, but whose counting?). 

These income limits are the base used to establish eligibility at admission, and in some cases, maximum rent levels for a number of HUD and non HUD housing programs, including the LIHTC, single family and multifamily bond programs, and local inclusionary housing programs. 

In subsequent posts/tweets I will highlight specific program impacts, including changes in maximum rents. 

As I anticipated in prior tweets, the growth in median family incomes is substantial for the Portland metro area; the Portland HUD median family income grew by $6,700 /9.0% from $74,700 to $81,400. 

The statewide HUD median family income also grew a hefty $5,300/8.2% to $69,900.

But the HIGHEST % growth occurred in Josephine at 15.3% and Marion and Polk at 15.2%.

I have prepared a PDF file HERE and embedded below which shows the median family income changes for Oregon counties. Note that not all counties saw increases, Corvallis and Douglas both saw decreases.  

To view the specific calculations for an individual area, you can go to the HUD web page HERE and use the pull downs to find the county or metro area of interest. 

Originally created and posted on the Oregon Housing Blog.

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