HUD released the FY17 median family income (MFI) estimates and income limits on April 14. The estimated FY17 MFI for the U.S. is $68,000, which represents a 3.5% increase from the estimated FY16 MFI of $65,700.
HUD uses MFIs to determine income eligibility for households applying for the Public Housing, Section 8 Housing Choice Voucher, Section 202 Housing for the Elderly, and Section 811 Housing for Persons with Disabilities programs. The MFIs are also used to determine income eligibility for programs run by the Department of the Treasury, the Department of Agriculture, and the Federal Housing Finance Agency.
HUD calculates the FY17 MFIs using 2010-2014 five-year American Community Survey (ACS) and Puerto Rico Community Survey (PRCS) data. HUD uses the 2014 one-year ACS survey where it is valid.
Income limits are based on MFIs adjusted for family size. Very low income (VLI) limits for four-person families are calculated as 50% of the area median family income, with adjustments for high and low cost areas. Extremely low income (ELI) families are defined as those whose incomes do not exceed the greater of either 30% of the MFI (or 60% of VLI income limit) or the federal poverty guideline published by the Department of Health and Human Services. If the federal poverty guideline is above the VLI limit for a given family size, the ELI limit is set at the VLI limit.
The FY17 Income Limits documentation and more information are available at: http://bit.ly/2oyWrEw