What changes have been made to the methodology for calculating Section 8 income limits? What impact will these changes have on the calculation of HOME income limits?
The HOME income limits are calculated using the same methodology that HUD uses for calculating the income limits for the Section 8 program, in accordance with Section 3(b)(2) of the U.S. Housing Act of 1937, as amended. You can find out more about HOME income limits on our website. Question 15: May participating jurisdictions use Section 8 “exception rent limits” as the basis for determining HOME program rents? What is the difference between “exception rent limits” and “HOME rent exceptions”? Answer: Section 8 “exception rent limits” do not apply to the HOME program and cannot be used to determine the maximum HOME program rents. You can read about HOME rents on our website.
Related Questions
- What changes have been made to the methodology for calculating Section 8 income limits? What impact will these changes have on the calculation of HOME income limits?
- Are dividends and other unearned income counted as income for the purposes of calculating Adjusted Gross Income phase-out limits?
- ARE THERE ANY INCOME LIMITS FOR CLAIMING THE FIRST TIME HOME BUYER TAX CREDIT?
