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HTC and Tax Exempt Bond Rent and Income Limits

Overview
Each year the Department of Housing and Urban Development (HUD) publishes revised income limits. There is no deadline date for HUD to publish such limits, so the effective date varies from year to year.
These are not official Treasury income limits; however, they have been calculated in accordance with anticipated treasury standards. Calculations of the 30% to 45%, 55% and 60% income limits were extrapolated using the HUD-published 50% income limits with no rounding.
In accordance with IRS requirements, rent limits are based on an imputed formula of 1.5 persons per bedroom. For example, to calculate the one-bedroom rent limit: add the one person income limit to the 2 person income limit, divide by two, multiply by 30% and divide by twelve.
Rent is gross rent, which includes utilities paid by the tenant and other non-optional charges.
There is a forty-five (45) day grace period from the effective date to when the income and rent limits must be implemented.
Due to the Housing and Economic Recovery Act of 2008 (HERA), income limits for projects funded with tax credits and/or financed with tax exempt housing bonds (TE Bonds) are calculated and presented separately from the Section 8 income limits. Beginning with the publication of FY2009 Median Family Income estimates and Income Limits, the section 8 income limits CAN NO LONGER be used for tax credit or TE Bond properties.

Minnesota Housing produces separate tables for each range of placed in service dates:
 

2014 Income and Rent Limit Tables

Table A - For projects placed in service on or before 12/31/2008
Table B - For projects placed in service on 1/1/2009 to 05/13/2010
Table C - For projects placed in service on 5/14/2010 to 5/30/2011
Table D - For projects placed in service on 5/31/2011 to 11/30/2011
Table E - For projects placed in service on 12/1/2011 to 12/10/2012
Table F - For projects placed in service on 12/11/12 to 12/17/13
Table G - For projects placed in service on or after 12/18/2013

Prior Year Rent & Income Limits

2013 Rent & Income Limits
Table A - For projects placed in service on or before 12/31/2008
Table B- For projects placed in service on 1/1/2009 to 05/13/2010
Table C - For projects placed in service on 5/14/2010 to 5/30/2011
Table D - For projects placed in service on 5/31/2011 to 11/30/2011
Table E - For projects placed in service on 12/1/2011 to 12/10/2012
Table F - For projects placed in service on or after 12/11/2012
 
2012 Rent & Income Limits
Table A - For projects placed in service on or before 12/31/2008
Table B - For projects placed in service on 01/01/2009 to 05/13/2010
Table C - For projects placed in service on 05/14/2010 to 05/30/2011
Table D - For projects placed in service on 05/31/2011 to 11/30/2011
Table E - For projects placed in service on or after 12/01/2011
 
2011 Rent & Income Limits
Table A - Tax Credit & Tax Exempt Bond Income & Rent Limits - For projects placed in service on or before 12/31/2008
Table B - Housing Tax Credit & Tax Exempt Bond Income and Rent Limits – For projects placed in service on 1/1/2009 to 5/13/2010
Table C - Housing Tax Credit & Tax Exempt Bond Income & Rent Limits – For projects placed in service on 5/14/2010 to 5/30/2011
Table D - Housing Tax Credit & Tax Exempt Bond Income & Rent Limits – For projects placed in service on 5/31/2011 and later.
 
2010 Rent & Income Limits
Table A - Housing Tax Credit & Tax Exempt Bond Income & Rent Limits - for projects placed in service on or before 12/31/2008
Table B - Housing Tax Credit & Tax Exempt Bond Income & Rent Limits - for projects placed in service on 1/1/2009 to 5/13/2010
Table C - Housing Tax Credit & Tax Exempt Bond Income & Rent Limits - for projects placed in service on or after 5/14/2010
 
2009 Rent & Income Limits
Table A - Housing Tax Credit & Tax Exempt Bond Income & Rent Limits - For projects placed in service before 1/1/2009
Table B - Housing Tax Credit & Tax Exempt Bond Income and Rent Limits – For projects placed in service on or after 1/1/2009