09-09-2002 Council Packet - Laserfiche WebLink

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SEP-05-2002 12:34 HENN CTi* TRRNS & REPL EST 612 348 9710 P.02/02 Hennepin Hennepin County DATE: TO: ntOM: SUBJECT: Frinuaiy 14,2002 Urban Hennepin County Subredpients Office of Planning and Development, Development Planning Unit 2002 SECTION 8 INCOME UMITS Below ate the Section 8 income limits, effective 1/31A)2 low-income (80 percent of median) and very low-income (SO percent of median) housdiolds. Income for housdiolds at 60percentand30peioentof median income is also provided. All income limits are based on 1990 census data updated to 2002. The US median family income, \iMdi increased to $54,400, is used as a cap in calculating income for a four-person household at 80 percent of median. Median income in the Minneapolis/St Paul MSA increased from $74,700 to $76,700. These income limits must be used in calculating household income eligibility for all HUD-funded activities that need to document low/moderate-income benefit. These income limits are efiective until further notice. FY 2002 MEDIAN HOUSEHOLD INCOME: $76,700 (MPLS/ST. PAUL METRO AREA) - * ■ 4 1 Person 38,100 32,220 26,850 16,100 2 Person 43,500 36.840 30.700 18,400 3 Person 48.950 41,400 34300 20,700 ftPersrm 54,400 46,020 38350 5 Person 58,750 49.680 41,400 24,850 6 Person 63,100 53.400 44,500 26,700 7 Person 67.450 57.060 47350 28350 8 Person 71,800 60.720 50,600 30,350 FY 2002 Fadtral Poverty Guidelines: One person - $8,860, Two persons - $11,940. Three person - $15,020, Four person - $18,100, Five person • $21,180, Six person - $24,260, Seven person • $27340, Eight person • $30,420. .O:\OPUPROCVCoaplMVSceti0B I toegoM Lumu ‘02.4 m HeNNtnN COUNIYOfMICC OP PlANNINO ft DevetjOPMSNr. OCVSLOPWNT PLANNme UNIT 10709 WAvsATA B oulcvaho . Sun 260. minnstonka . MN S8306 MAiuCoee 60a Phone ; (962) eat •7080-Pak (952) 541-709O-TCO/Trr (982) 941.7961 TOTAL P.02