Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
“HUD has a stated target of May 15 to release income limits for 2023. This is much later than in previous years, and later than HUD’s recent goal of releasing limits April 1 each year”
“In December 2022, HUD announced that in place of 2020 ACS data, HUD would use 2021 ACS data for 2023 income limits.“
“Novogradac estimates that more than 45% of the areas for which estimates can be made will have an increase of more than 7.5% from 2022 to 2023.”
Is anyone able to work out the likely income bands considering this? I tried to read the article to find where to get the data from and figure it out but I am a bit baffled! EDIT - seems to be a 4.75% increase, if I am reading correctly.
Because of covid shut down of basically all federal agencies in 2020 HUD does not have data they normal ACS data. So they are going with best option in their opinion.
As noted in OP's link while there are at least three other options HUD for various reasons decided not to pursue.
Long story short like businesses government agencies are looking to get back on track after interruptions caused by covid. HUD was late last year releasing data which caused issues and they seem intent on getting back into normal routine and regular schedule.
Location: Read the Marketing Handbook, and Income a Guide.
2,010 posts, read 1,628,911 times
Reputation: 479
Lotteries use HUD data as a policy
Quote:
Originally Posted by stormgal
HUD is not New York City based. That is more of a nationwide program. NYC’s lotteries fall under the city’s policies not the federal.
Yes, HUD is U.S. Housing and Urban Development. The AMI% limits that are used in the lotteries are set by HUD. The geographic area is the five boroughs and some adjacent places the specifics of which I am not looking up for this post.
“What is Area Median Income (AMI)?
Area Median Income (AMI) is the median income levels as modified by household size for the New York metropolitan statistical area as determined by the Department of Housing and Urban Development (HUD.) For 2021, the AMI is $107,400 for a three-person family in the New York Metropolitan Statistical Area and $83,600 for a single person.
what does that mean for lotteries that are already posted? Will the income limits stay the same or be changed once the 2023 new rates come in?
Quote:
Originally Posted by Plantmom
It will change I think
Correct, they will change the max income once the new numbers come out. Usually the minimum income number doesn't change.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Lotteries use HUD data as a policy
