2020 AMI, affordable housing income limits released
The Department of Planning and Permitting (DPP) has released the 2020 affordable housing income limits. They serve as guidelines in qualifying purchasers and renters for affordable units as required under various city programs.
The affordable housing income limits are based on the median family income (MFI) set by the U.S. Department of Housing and Urban Development (HUD). This year, HUD determined that the city’s MFI is $101,600, an increase of 2.6 percent from last year’s $99,000. Income limits increased by an average of 4.5 percent, while rental rates increased an average 4 percent.
The DPP translates the HUD MFI to determine rental guidelines for various income groups and household sizes in Honolulu. For example, the limit for a household of four at the median level (100 percent) in 2020 is $125,850, up from last year’s $120,500. The maximum monthly rent for this household is $2,975 for a two-bedroom unit, according to DPP calculations.
A complete list of the 2020 affordable housing income limits and maximum rents by income groups and household size is available at https://bit.ly/2OSFfGw.