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2021 Household Income Limits for Affordable and Workforce Housing <br /> Family Size=4 Affordable Housing Workforce Housing <br /> Income Range Low Limit High Limit Low Limit High Limit <br /> Extremely Low Income $ 0 $ 29,150 <br /> (<30%Average Median Income) <br /> Very Low Income $ 29,150 $ 48,600 <br /> (>30%<50%AMI) <br /> Low Income $ 48,600 $ 77,750 $ 58,320 $ 77,750 <br /> (>50%<80%AMI) <br /> Median Income $89,300 <br /> (100%AMI) <br /> Moderate Income $ 77,750 $ 107,160 <br /> (>80%,<120%AMI) <br /> IRS Tax Credit Income $ 19,440 $ 77,760 $ 58,320 $ 77,760 <br /> (>20%<80%AMI,but must average<60%AMI) <br /> Note: HUD Income Limits under Sec 8 and IRS Income Limits under the Low Income Tax Credit Program overlap between 60-80%AMI. <br /> Parallel to this overlap, the definitions of Affordable Housing and Workforce Housing overlap in the same 60-80%AMI Range. <br /> 7. 2021 Household income limits for affordable and workforce housing <br /> • Low income is less than 30% average median income, the limit is 60% of <br /> average median income. There are subsidies, the less you make the less you <br /> pay. Realistically, the focus of this housing is 50-60%, some families can finagle <br /> with 45% of average median income for their family, but that is the low point. <br /> They can afford to live because the rent does not change. <br /> • Median income for Mashpee is $89,000 a year. Ten years ago, it was $106,000 <br /> statewide, Mashpee was $96,000. Moderate income is $77,000-$107,000. <br /> Workforce housing is in the moderate-income level. This is 60% of average <br /> median income to 120%, which would be $58,000-$107,000 a year. This is <br /> workforce housing group with some overlap to potential affordable housing. This <br /> will help steer the conversation with FDIC. <br /> • Ms. Baker stated most people in the middle, the 80% to 120%, is who we want to <br /> retain because they contribute to many facets of the community, but because of <br /> housing they are getting squeezed out. <br /> • Chairman retorted he feels his higher purpose for this Committee is to affordable <br /> housing, as HUD defines, 80% of average median income or lower. However, the <br /> Committee should also be paying attention to higher incomes and be a part of an <br /> effort, as our social responsibility, to advocate towards the workforce housing <br /> group. <br /> 13 <br />