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I just found out that the new HUD income limits for FY 2016 were released on March 28 (see link below). I was wondering: Does anyone know when and if these limits will be used for upcoming housing lotteries that haven't been posted yet? Also, what about previous lotteries that you've applied to, but haven't been called for- will these new income limits apply? (I know it's probably just wishful thinking, but I'm curious)
Just an update: There are already 2 new listings in housing connect with the updated income limits! It looks like it was increased by $2,040 (For a household of 2) Good luck to everyone! :-)
There is no way the median household income in New York State has increased $14K over the last couple years even if everyone on Wall Street is paid a TRILLION dollars salary. The top salaries do not move a median.
Mr. Median does not get a bonus, ever. It seems he never gets a raise either.
Wikipedia:
Quote:
The median household income across New York State stands at According to the Census ACS 1-year survey, the median household income for New York was $58,878 in 2014, the latest figures available., according to 2010-2012 estimates from the U.S. Census Bureau.
Again I ask, why is the state's Median family income reported as $72,300. That first number affects every income limit on the chart.
There is no way the median household income in New York State has increased $14K over the last couple years even if everyone on Wall Street is paid a TRILLION dollars salary. The top salaries do not move a median.
Mr. Median does not get a bonus, ever. It seems he never gets a raise either.
Wikipedia:
Again I ask, why is the state's Median family income reported as $72,300. That first number affects every income limit on the chart.
How do you figure out the upper and lower boundaries?
Plus, over $2,000 is a lot for it to increase. (The year before, it decreased by a couple of hundred bucks for a single.)
What are you comparing it to?
Also, not all lotteries are the same in which income group they're for.
I have been applying to affordable housing on housing connect for a few years now. You are correct, not all lotteries have the same income requirements, but I find that the majority is geared towards the same income brackets. In my case, I'm a 2 person household and previously almost all the apartments I applied for had an income limit of $41,460. The 2 most recent postings on housing connect now have an increased income limit of around +$2,000. I was surprised since prior to the 41,460 it was 40,320 perhaps they will gradually start including more more income brackets?!
My argument stands:
The reported NYS family income of $74,300, on which all the following affordable housing numbers follow is an outright lie.
Why? I do not know, except perhaps to allow developers to charge more for higher income tenants than the real numbers would allow.
The base number is bogus. "Family" and "household" are used synonymously as they should be.
My argument stands:
The reported NYS family income of $74,300, on which all the following affordable housing numbers follow is an outright lie.
Why? I do not know, except perhaps to allow developers to charge more for higher income tenants than the real numbers would allow.
The base number is bogus. "Family" and "household" are used synonymously as they should be.
No, it isn't.
IIRC these housing lotteries are only open to "families", that is you cannot get an apartment for roommate (unrelated persons) situations. Units are awarded based on the size of the family; one, two, three or whatever persons.
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