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1 | CITY OF ASHEVILLE APPENDIX 1 - | |||||||||||||||||||||||||||
2 | 2022 AREA MEDIAN INCOME (AMI) AFFORDABILITY REQUIREMENTS & RENTS FOR | |||||||||||||||||||||||||||
3 | ASHEVILLE PROGRAMS LIKE HOUSING TRUST FUND (HTF) & LAND USE INCENTIVE GRANT (LUIG) | |||||||||||||||||||||||||||
4 | (Effective June 30, 2022) | |||||||||||||||||||||||||||
5 | ||||||||||||||||||||||||||||
6 | 2022 INCOME LIMITS SUMMARY* | 2022 UTILITY ALLOWANCE (ELECTRIC, WATER, SEWER, TRASH)** | ||||||||||||||||||||||||||
7 | ||||||||||||||||||||||||||||
8 | Household Size | Extremely Low Income (30% AMI) | Very Low Income (50% AMI) | Low Income (60% AMI)* | Low Moderate Income (80% AMI) | Moderate Income (100% AMI)* | High Moderate Income (120% AMI)* | Unit Size | Utility Allowance | Electric | Water | Sewer | Trash | |||||||||||||||
9 | One-person | $16,900 | $28,150 | $33,750 | $45,000 | $56,250 | $67,500 | Efficiency/Studio | 171 | 95 | 24 | 33 | 19 | |||||||||||||||
10 | Two-person | $19,300 | $32,150 | $38,550 | $51,400 | $64,250 | $77,100 | One Bedroom | 184 | 106 | 25 | 34 | 19 | |||||||||||||||
11 | Three-person | $23,030 | $36,150 | $43,388 | $57,850 | $72,313 | $86,775 | Two Bedroom | 224 | 128 | 33 | 44 | 19 | |||||||||||||||
12 | Four-person | $27,750 | $40,150 | $48,188 | $64,250 | $80,313 | $96,375 | Three Bedroom | 266 | 152 | 41 | 54 | 19 | |||||||||||||||
13 | Five-person | $32,470 | $43,400 | $52,050 | $69,400 | $86,750 | $104,100 | Four Bedroom | 307 | 175 | 49 | 64 | 19 | |||||||||||||||
14 | Six-person | $37,190 | $46,600 | $55,913 | $74,550 | $93,188 | $111,825 | |||||||||||||||||||||
15 | Seven-person | $41,910 | $49,800 | $59,775 | $79,700 | $99,625 | $119,550 | |||||||||||||||||||||
16 | Eight-person | $46,630 | $53,000 | $63,638 | $84,850 | $106,063 | $127,275 | |||||||||||||||||||||
17 | ||||||||||||||||||||||||||||
18 | ||||||||||||||||||||||||||||
19 | ||||||||||||||||||||||||||||
20 | ||||||||||||||||||||||||||||
21 | MAXIMUM PROGRAM RENTS (80% AMI) (Low Moderate) | |||||||||||||||||||||||||||
22 | ||||||||||||||||||||||||||||
23 | Unit Size | Max Rent w/ utilities included | Utility Allowance | Max Rent / tenant paid utilities | Max Rent / landlord pays W,S,T | |||||||||||||||||||||||
24 | Efficiency/Studio | $1,125 | 171 | $954 | $1,030 | |||||||||||||||||||||||
25 | One Bedroom | $1,205 | 184 | $1,021 | $1,099 | |||||||||||||||||||||||
26 | Two Bedroom | $1,446 | 224 | $1,222 | $1,318 | |||||||||||||||||||||||
27 | Three Bedroom | $1,671 | 266 | $1,405 | $1,519 | |||||||||||||||||||||||
28 | Four Bedroom | $1,864 | 307 | $1,557 | $1,689 | |||||||||||||||||||||||
29 | ||||||||||||||||||||||||||||
30 | ||||||||||||||||||||||||||||
31 | MAXIMUM PROGRAM RENTS (60% AMI) (Low Income) | |||||||||||||||||||||||||||
32 | ||||||||||||||||||||||||||||
33 | Unit Size | Max Rent w/ utilities included | Utility Allowance | Max Rent / tenant paid utilities | Max Rent / landlord pays W,S,T | |||||||||||||||||||||||
34 | Efficiency/Studio | $844 | 171 | $673 | $749 | |||||||||||||||||||||||
35 | One Bedroom | $904 | 184 | $720 | $798 | |||||||||||||||||||||||
36 | Two Bedroom | $1,085 | 224 | $861 | $957 | |||||||||||||||||||||||
37 | Three Bedroom | $1,253 | 266 | $987 | $1,101 | |||||||||||||||||||||||
38 | Four Bedroom | $1,398 | 307 | $1,091 | $1,223 | |||||||||||||||||||||||
39 | ||||||||||||||||||||||||||||
40 | ||||||||||||||||||||||||||||
41 | MAXIMUM PROGRAM RENTS (HACA Voucher Holder) (VPS) (60% Low Income) *** | |||||||||||||||||||||||||||
42 | ||||||||||||||||||||||||||||
43 | Unit Size | Max Rent w/ utilities included | Utility Allowance | Max Rent / tenant paid utilities | Max Rent / landlord pays W,S,T | |||||||||||||||||||||||
44 | Efficiency/Studio | $1,307 | 171 | $1,136 | $1,212 | |||||||||||||||||||||||
45 | One Bedroom | $1,393 | 184 | $1,209 | $1,287 | |||||||||||||||||||||||
46 | Two Bedroom | $1,588 | 224 | $1,364 | $1,460 | |||||||||||||||||||||||
47 | Three Bedroom | $2,165 | 266 | $1,899 | $2,013 | |||||||||||||||||||||||
48 | Four Bedroom | $2,719 | 307 | $2,412 | $2,544 | |||||||||||||||||||||||
49 | ||||||||||||||||||||||||||||
50 | ||||||||||||||||||||||||||||
51 | MAXIMUM PROGRAM RENTS (100% AMI) (Moderate Income) | |||||||||||||||||||||||||||
52 | ||||||||||||||||||||||||||||
53 | Unit Size | Max Rent w/ utilities included | Utility Allowance | Max Rent / tenant paid utilities | Max Rent / landlord pays W,S,T | |||||||||||||||||||||||
54 | Efficiency/Studio | $1,406 | 171 | $1,235 | $1,311 | |||||||||||||||||||||||
55 | One Bedroom | $1,506 | 184 | $1,322 | $1,400 | |||||||||||||||||||||||
56 | Two Bedroom | $1,808 | 224 | $1,584 | $1,680 | |||||||||||||||||||||||
57 | Three Bedroom | $2,088 | 266 | $1,822 | $1,936 | |||||||||||||||||||||||
58 | Four Bedroom | $2,330 | 307 | $2,023 | $2,155 | |||||||||||||||||||||||
59 | ||||||||||||||||||||||||||||
60 | ||||||||||||||||||||||||||||
61 | NOTES | |||||||||||||||||||||||||||
62 | * From HUD AMI for Asheville Metro, as well as NSP Limits, HOME Income Limits, NCHFA, URA Income Limits, HUD FMR, etc. (definitions below) | |||||||||||||||||||||||||||
63 | 60%, 100% & 120% AMIs are calculated when HUD AMIs are published in April and verified later as data becomes available | |||||||||||||||||||||||||||
64 | (HUD publishes AMIs for 30, 50 & 80% AMI in April plus the 100% AMI for a family of four) | |||||||||||||||||||||||||||
65 | * Calculations by Community Development Staff lowered to the nearest dollar $$ | |||||||||||||||||||||||||||
66 | * HUD assumes 1.5 persons per bedroom | |||||||||||||||||||||||||||
67 | * City of Asheville "Moderate Income Housing" is defined as 80% - 100% AMI | |||||||||||||||||||||||||||
68 | * Boarding House rents should follow Efficiency/Studio rents | |||||||||||||||||||||||||||
69 | * When utilizing a City of Asheville Affordable Housing Incentive Policy | |||||||||||||||||||||||||||
70 | first Year Rents are based on Month & Year of Occupancy (CO) & AMI rents at THAT date | |||||||||||||||||||||||||||
71 | *Please think about when you income verify & your date of CO for clarity on income, rents and this "Appendix 1" | |||||||||||||||||||||||||||
72 | (for annual rent increases, please see Incentive Policy and/or your Legal Agreement) | |||||||||||||||||||||||||||
73 | * Affordable Rents (Appendix 1) will be published each year by the CD Department | |||||||||||||||||||||||||||
74 | when AMIs are published by HUD, usually in April (unless otherwise noted by the CoA) | |||||||||||||||||||||||||||
75 | * City of Asheville allows annual rent increases to occur at the time of lease renewal | |||||||||||||||||||||||||||
76 | NOT at the time these annual figures are published | |||||||||||||||||||||||||||
77 | AND in concurrence with the Incentive Policy and/or your Legal Agreement | |||||||||||||||||||||||||||
78 | Any increase in rent shall be no greater than the lower of the published figures or a 2.5% increase | |||||||||||||||||||||||||||
79 | not to exceed 30% of the individual or families AMI, rent plus utilities | |||||||||||||||||||||||||||
80 | * If at renewal the tenant is over the 80% AMI income for that year but under 120% AMI, the City requires that you keep the tenant | |||||||||||||||||||||||||||
81 | at the affordable rent until their income is over 120% AMI. If the tenant is over that 120% AMI income at renewal, | |||||||||||||||||||||||||||
82 | they can either stay in their unit with an adjustment to market rent or not renew their lease. | |||||||||||||||||||||||||||
83 | The City of Asheville requires that income verification on affordable units for renewal occur 120 days | |||||||||||||||||||||||||||
84 | before lease end to allow the tenant additional time should they be over income. | |||||||||||||||||||||||||||
85 | ** The utility allowance is based on the average fees and costs in Asheville for multifamily units | |||||||||||||||||||||||||||
86 | all electric, landlord supplied appliances (range & refrigerator) | |||||||||||||||||||||||||||
87 | and published annually by HACA, usually in December | |||||||||||||||||||||||||||
88 | *** Published annually by the Housing Authority City of Asheville (HACA) usually in April / Rental Assistance | |||||||||||||||||||||||||||
89 | ||||||||||||||||||||||||||||
90 | - Note - affordable units may not be sold or rented to relatives or business associates of the developer or the property management | |||||||||||||||||||||||||||
91 | ||||||||||||||||||||||||||||
92 | ** IF YOUR PROJECT HAS HUD HOME INVESTMENT PARTNERSHIP FUNDS, PLEASE CONTACT YOUR CITY OF ASHEVILLE | |||||||||||||||||||||||||||
93 | PROJECT MANAGER FOR THOSE SPECIAL RENTS AND THEIR CAP | |||||||||||||||||||||||||||
94 | ||||||||||||||||||||||||||||
95 | - CD Incentives for homeownership must follow the AMIs published here and in accordance with the Incentive Policy and/or your Legal Agreement | |||||||||||||||||||||||||||
96 | - Total housing obligation for homeownership should not exceed 33% of AMI including mortage principal, interest, insurance & taxes | |||||||||||||||||||||||||||
97 | except where notated in the Incentive Policy and/or your Legal Agreement | |||||||||||||||||||||||||||
98 | ||||||||||||||||||||||||||||
99 | NOTE - the City reserves the right to adjust AMI rental rates for micro-units, boarding house, & tiny homes | |||||||||||||||||||||||||||
100 | NOTE - the City reserves the right to adjust AMI rental rates when parking is not included |