HomeMy WebLinkAbout2020 Affordable Housing GuidelinesAFFORDABLE HOUSING GUIDELINES FOR THE COUNTY OF HAWAI'I
FOR-SALE UNITS GUIDELINES (Effective 08/26/2020)
% of Median 50% 60% 70% 80% 90% 100% 110% 120% 130% 140%
Sales Price: Studio:$150,200.00 $180,300.00 $210,300.00 $240,400.00 $270,400.00 $300,400.00 $330,500.00 $360,500.00 $390,600.00 $420,600.00
1 person max family income:29,200$ 35,040$ 40,880$ 46,720$ 52,560$ 58,400$ 64,240$ 70,080$ 75,920$ 81,760$
6.2634% 6.2654% 6.2640% 6.2654%6.2643% 6.2634%6.2645% 6.2637%6.2646% 6.2640%$142,700 $171,300 $199,800 $228,300 $256,900 $285,400 $314,000 $342,500 $371,100 $399,600
Sales Price: 1 Bedroom:$171,600.00 $205,900.00 $240,200.00 $274,500.00 $308,800.00 $343,100.00 $377,500.00 $411,800.00 $446,100.00 $480,400.00
2 person max family income:33,350$ 40,020$ 46,690$ 53,360$ 60,030$ 66,700$ 73,370$ 80,040$ 86,710$ 93,380$
6.2653% 6.2647% 6.2643% 6.2639%6.2637% 6.2635%6.2650% 6.2647%6.2645% 6.2643%$163,000 $195,600 $228,200 $260,800 $293,400 $326,000 $358,600 $391,200 $423,800 $456,400
Sales Price: 2 Bedroom:$192,900.00 $231,500.00 $270,100.00 $308,700.00 $347,300.00 $385,800.00 $424,400.00 $463,000.00 $501,600.00 $540,200.00
3 person max family income:37,500$ 45,000$ 52,500$ 60,000$ 67,500$ 75,000$ 82,500$ 90,000$ 97,500$ 105,000$
6.2636% 6.2641% 6.2645% 6.2648%6.2650% 6.2636%6.2639% 6.2641%6.2643% 6.2645%$183,300 $219,900 $256,600 $293,200 $329,900 $366,600 $403,200 $439,900 $476,500 $513,200
Sales Price: 3 Bedroom:$214,300.00 $257,100.00 $300,000.00 $342,800.00 $385,700.00 $428,600.00 $471,400.00 $514,300.00 $557,100.00 $600,000.00
4 person max family income:41,650$ 49,980$ 58,310$ 66,640$ 74,970$ 83,300$ 91,630$ 99,960$ 108,290$ 116,620$
6.2651% 6.2636% 6.2647% 6.2636%6.2644% 6.2651%6.2643% 6.2648%6.2642% 6.2647%$203,600 $244,300 $285,000 $325,700 $366,400 $407,100 $447,800 $488,500 $529,300 $570,000
Sales Price: 4 Bedroom:$231,500.00 $277,800.00 $324,100.00 $370,400.00 $416,700.00 $463,000.00 $509,300.00 $555,600.00 $601,900.00 $648,200.00
5 person max family income:45,000$ 54,000$ 63,000$ 72,000$ 81,000$ 90,000$ 99,000$ 108,000$ 117,000$ 126,000$
6.2641% 6.2641% 6.2641% 6.2641%6.2641% 6.2641%6.2641% 6.2641%6.2641% 6.2641%$219,900 $263,900 $307,900 $351,900 $395,900 $439,900 $483,900 $527,800 $571,800 $615,800
Sales Price: 5 Bedroom:$248,700.00 $298,500.00 $348,200.00 $398,000.00 $447,700.00 $497,500.00 $547,200.00 $597,000.00 $646,700.00 $696,500.00
6 person max family income:48,350$ 58,020$ 67,690$ 77,360$ 87,030$ 96,700$ 106,370$ 116,040$ 125,710$ 135,380$ 6.2632%6.2645%6.2636%6.2645%6.2638%6.2645%6.2639%6.2645%6.2640%6.2645%
$236,300 $283,600 $330,800 $378,100 $425,400 $472,600 $519,900 $567,100 $614,400 $661,700
FOR-SALE FINISHED LOTS GUIDELINES (Effective 08/26/2020)
% of Median Income Affordable Home Price Cost/Unit Affordable Lot Price Credit
80% 342,800$ - 146,575$ =196,225$ 1
100% 428,600$ - 146,575$ =282,025$ 1/2
FOR-RENT GUIDELINES (Effective 08/26/2020)
Bedroom Size Studio One Two Three Four Credits
30% 438$ 469$ 562$ 649$ 725$ 2
50% 730$ 781$ 937$ 1,083$ 1,208$ 2
60% 876$ 938$ 1,125$ 1,299$ 1,450$ 1 1/2
80% 1,168$ 1,251$ 1,500$ 1,733$ 1,934$ 1 1/2
100% 1,460$ 1,563$ 1,875$ 2,166$ 2,417$ 1
120% 1,752$ 1,876$ 2,250$ 2,600$ 2,901$ 1/2
140% 2,044$ 2,189$ 2,625$ 3,032$ 3,384$ 1/2
This information is based on the affordable sales price for a completed unit for a household, earning one hundred percent of the median income in the County of Hawai'i, less the cost to
build a single-family home of 1,100 square feet. *$133.25 per square foot cost is based on estimated cost for last calendar year, submitted by the County of Hawai`i, Department of
Public Works, Building Division. Per Chapter 11 of the Hawai'i County Code §11-5(c)(9)(10)
Affordable rents are based on 30% of gross monthly income, including utilities (water, sanitary sewage service, electricity and/or gas). Please refer to form HUD-52667 (Allowances for
Tenant-Furnished Utilities and Other Services) for utilities for either single- and/or multi-family units.
% of Median Income
This information is based on 2020 median income provided by HHFDC, based on the rates established by the U.S. Department of Housing and Urban Development (HUD) for various family
sizes. Adjustments to the very low- (50%) and low-income (80%) limits are made by HUD for areas with unusually high or low family income or housing costs. Most income limits are
proportionately based on very low-income limits. Thus, the four-person (60%) income limit is 120% (60/50ths) of the four-person very low-income limit.
The figures considers (1) a 30-year conventional fixed mortgage; (2) a fixed interest rate of 4%*; (3) a down payment equal to 5% of the sales price (4) housing expenses equal to 28% of
gross annual income; *The interest rate used is the annual average interest rate for a 30-year conventional fixed mortgage, for the twelve months ending in the previous year rounded to the
nearest half percent, as published by the Federal Home Loan Mortgage Corp (http://www.freddiemac.com/pmms/docs/30yr_pmmsmnth.xls).
2 CREDITS 1.5 CREDITS 1 CREDIT 1/2 CREDIT
2763pcmp 2020 Affordable Housing Guidelines For Sale Units and Lots