2022 Income Limits

Apr 20, 2022

HUD has announced the 2022 income limits for the MTSP housing programs effective April 18, 2022. This includes low income housing tax credits and tax exempt bond financing. HUD allows for a 45 day grace period, which means these limits must be in use by June 2, 2022.

Our advice to all housing professionals is to immediately check for an increase for your sites. If the income limits in your area have increased go back through any files denied over the past few months to see if any slightly over income households may qualify under the new limits.

To find your 2022 income limits visit this site (and make sure to bookmark it!):

https://www.huduser.gov/portal/datasets/mtsp.html

Subscribe via RSS

Recent News

2024 Income Limits

2024 Income Limits

HUD has announced the 2024 income limits for the MTSP housing programs effective April 1, 2024..

Minimum wage increases for 2024

Minimum wage increases for 2024

State 2023 Hourly Minimum Wage 2024 Hourly Minimum Wage Effective January 1, 2024 Alaska $10.85 $11.73 Arizona $13.85 $14.35 California $15.50 $16.00 Colorado $13.65 $14.42 Connecticut $15.00 $15.69 Delaware $11.75 $13.25 Hawaii $12.00 $14.00 Illinois $13.00 for...

HOTMA News for Private Consulting Clients

HOTMA News for Private Consulting Clients

While HUD is allowing the implementation of the regulations to be pushed until 1-1-25, Spectrum Compliance has made the decision to implement the HOTMA changes on 1-1-24.  This allows for a year of trial and error before all states mandate the changes.  We are in contact with all state agencies concerning when they expect to implement HOTMA, and many have reported it will be 1-1-24.

HOTMA – Two Key Asset Changes

HOTMA – Two Key Asset Changes

HOTMA: Section 104: Asset Limits The Final Rule of the Housing Opportunity Through Modernization Act of 2016 (HOTMA) provides some significant changes to the way managers and owners will verify and treat assets. These changes will benefit tenants, administrators and...