What is the national non-metro median to be used to calculate the floor on rural LIHTC rents?
Section 3004 of the Housing and Economic Recovery Act (HERA) specifies that any project for residential rental property located in a rural area (as defined in section 520 of the Housing Act of 1949) use the maximum of the area median gross income or the national non-metropolitan median income. The FY 2010 non-metropolitan median income is: $51,600.
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