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Given the recession that our area has experienced in recent years, why have income limits increased?

April 26, 2017area experienced given income increased limits recent recession

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Given the recession that our area has experienced in recent years, why have income limits increased?

1 Answer

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Although HUD uses the most recent data available concerning local area incomes, there is still a lag between when the data are collected and when the data are available for use. For example, FY2010 Income Limits are calculated using 2006-2008 3-year American Community Survey (ACS) data. These data were collected between 2005 and 2008. The effects of the latest recession on local area incomes are most likely to be detected in subsequent ACS years.