October 13, 2022 the 2023 COLA was published at 8.7%. This is the largest increase since 1981.
2025 Income Limits
HUD has announced the 2025 income limits for the MTSP housing programs effective April 1, 2025.
2023 COLA ANNOUNCED
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2025 Minimum Wage Increases
As we step into 2025, several states are rolling out updates to their minimum wage rates, reflecting adjustments for inflation, legislative changes, and phased-in increases. · Ohio: The minimum wage is increasing to $10.70 from $10.45 due to an inflation...
2025 COLA Update: Impact on Affordable Housing Compliance
The Social Security Administration (SSA) recently announced the Cost-of-Living Adjustment (COLA) for 2025 at 2.5%, the lowest adjustment since 2020 (1.3%). The average COLA increase over the past decade has been 2.6%. While this year’s adjustment is lower than 2024’s...
2024 Income Limits
HUD has announced the 2024 income limits for the MTSP housing programs effective April 1, 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...