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Tax Credit and HERA Income Limits

Only LIHTC or Section 142 Tax Exempt Bond Funded properties in the identified HERA Special localities that placed in service prior to January 1, 2009 can use the HERA Special limits. All other LIHTC or Section 142 Tax Exempt Bond funded properties in these localities that placed in service January 1, 2009 or later must use the regular income limits and/or rents based on placed in service date.

Average Income

In March 2018, the “Consolidated Appropriations Act of 2018” established a third minimum set-aside election for new federal housing credit allocations and amended Section 42(g)(1) of the IRS Code of 1986 (which defined a “qualified low-income housing project). The Average Income Minimum Set-Aside election includes new [expanded] income limitations permitted for qualified low-income housing projects at 20%, 30%, 40%, 70%, and 80% AMI.

Currently, the HUD published MTSP income limits include 50% and 60% and HERA Special 50% and 60% limits for applicable areas. NOTE: The owner is responsible for confirming the applicable rent limits within program guidelines for their project. These limits are provided only as a courtesy.

The use of these rent limits cannot be used to confirm the compliance status of the property.

In the absence of IRS guidance on the Multifamily Tax Subsidy Program income limits applicable for 20%, 30%, 40%,70%, and 80%, the calculation factors used in determining the income limits for Tax Credit properties is applied to the published MTSP 50% AMI. The 70% and 80% limits are not applicable to the Tax Exempt Bond Program.

The calculation factors used in determining the Tax Credit MTSP and HERA Special income limits are:

1. 50% limits x .4 = 20%
2. 50% limits x .6 = 30%
3. 50% limits x .8 = 40%
50% limits x 1.2 = 60%
50% limits x 1.4 = 70% - Tax Credit only
50% limits x 1.6 = 80% - Tax Credit only

For additional information on how to implement Average Income for your project in Virginia, click here.
  

National Non-Metropolitan Income Limits
Section 3004 of the Housing and Economic Recovery Act (HERA) specifies that any project for residential rental property located in rural area (as defined in section 520 of the Housing Act of 1949) use the maximum of the area gross median income or the national non-metropolitan median income.


NOTE: VHDA will continue to make the income limits and rents for previous years available on our website to assist you.

Tax Credit & HERA Income Limits Archive

PDF Icon 2018

PDF Icon 2017

PDF Icon 2016

PDF Icon 2015

PDF Icon 2014 

PDF Icon 2013 

PDF Icon 2012 

PDF Icon 2011

PDF Icon 2010


Maximum LIHTC Gross Rents Archive

PDF Icon 2018

PDF Icon 2017

PDF Icon 2016

PDF Icon 2015

PDF Icon 2014

PDF Icon 2013

PDF Icon 2012

PDF Icon 2011

PDF Icon 2010

PDF Icon 2009


Rent Limits Archive


PDF Icon 2018 HERA Maximum Gross Rents
NOTE: These rents are applicable to properties located in the Blacksburg-Christiansburg-Radford, Harrisonburg, VA MSA, Winchester, VA-WV MSA, Staunton-Waynesboro, VA MSA that were placed in service BEFORE January 1, 2009.


PDF Icon 2017 HERA Maximum Gross Rents
NOTE: These rents are applicable to properties located in the Blacksburg-Christiansburg-Radford, Harrisonburg, Roanoke, Augusta-Waynesboro, Winchester and Kingsport-Bristol VA areas that were placed in service BEFORE January 1, 2009.


PDF Icon 2016 HERA Maximum Gross Rents
NOTE: These rents are applicable to properties located in the Blacksburg-Christiansburg-Radford, Harrisonburg, Roanoke, Augusta-Waynesboro and Winchester areas that were placed in service BEFORE January 1, 2009.


PDF Icon 2015 HERA Maximum Gross Rents
NOTE: These rents are applicable to properties located in the Blacksburg-Christiansburg-Radford, Harrisonburg, Roanoke, Augusta-Waynesboro and Winchester areas that were placed in service BEFORE January 1, 2009.

 

PDF Icon 2014 HERA Maximum Gross Rents
NOTE: These rents are applicable to properties located in the Blacksburg-Christiansburg-Radford, Harrisonburg, Roanoke, Augusta-Waynesboro and Winchester areas that were placed in service before January 1, 2009.
 

PDF Icon 2013 HERA Maximum Gross Rents
NOTE: These rents are applicable to properties located in the Blacksburg-Christiansburg-Radford, Harrisonburg, Kingsport-Bristol-Bristol, TN-VA and Winchester areas that were placed in service before January 1, 2009. 

 

PDF Icon 2012 HERA Maximum Gross Rents
NOTE: These rents are applicable to properties located in the Blacksburg-Christiansburg-Radford, Harrisonburg, Augusta-Waynesboro and Winchester areas that were placed in service before January 1, 2009.
 

PDF Icon 2011 HERA Maximum Gross Rents
NOTE: These rents are applicable to properties located in the Blacksburg-Christiansburg-Radford, Harrisonburg, Roanoke, Augusta-Waynesboro and Winchester areas that were placed in service before January 1, 2009.
 

PDF Icon 2010 HERA Maximum Gross Rents
NOTE:These rents are applicable to properties located in the Blacksburg-Christiansburg-Radford, Harrisonburg and Winchester areas that were placed in service before January 1, 2009.

 

NOTE: You will need Adobe’s Acrobat Reader (.pdf), and/or Microsoft Office Software in order to view some of the documents on this page.

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