HomeMy WebLinkAbout2012 Affordable Housing GuidelinesAFFORDABLE HOUSING GUIDELINES FOR THE COUNTY OF HAWAII
FOR -SALE UNITS GUIDELINES (Effective 12105/2012)
This information is based on 2011 median income 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 4.5%*, (3) housing expenses equal to 28% of gross annual income, (4) Property tax
rate at $5.55 per 1,000; (5) homeowners insurance rate of $300 per $100,000 of coverage; (6) a down payment equal to 5% of the sales price; '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, as published by the Federal Home Loan Mortgage Corp
(hftp:/Avww.freddiemac.com/pmms/docs/30yr_pmmsmnth.xls). The rate is rounded to the nearest half percent.
FAMILY SIZE: 1
$
r
r
rSEEM
r,
r,
rr,
r,
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r,
IIIIIIIIIIIIIEWO
Income
$ -!
25,700
$ 30,840
$ - 35,9801
$ - 41,120
$ - 44,920
i$ - 48,720
$ - 53,550
$ - 58,460
$ - 63,340
$ i 68,2141
Sales price
$
103,800
$ 124,50
$ 145,30
$ 166,000
$ 181,400
$ 196,700
$ ?16,4nn
$ 936,000
$ 255,700
$ 275,,'00
FAMILY SIZE: 2
1,705
1 $ 1,827 1
$ 2,192
1 $ 2,533 1
$ 2,826
Income
$-',
29,404
$ 35,280
$ - 41,1401
$ - 47;040
$ - 51,360
i$ - 55,680
$ - 61,250
$ - 66,824
$ - 72,380
$ i 77,9501
Sales price
$
"S,700
$ 140,400
$ 166?00
$ 189,900
$ 207,40()
$ 224,800
$ ?a7,300
$ 269,800
$ 202,200
$ 314,700
FAMILY SIZE: 3
Income
$ -!
33,050
$ 39,660
$ 46,270 ;
$ . 52£880
$ 57,760
i$ . 62,640
$ - 68,900
$ - 75,170
$ - 81,430
$ i 87,7001
Sales rice
p
$
3?,4n
$ F0 1 nn
, _
, _
$ 86 gnn
? Snn
$ _,__
0z? ?nn
$ 007,0
$ �n� Qnn
X78 inn
$ 078,0_
$ 3n?,500
$ 328,800
$ 354,100
FAMILY SIZE: 4
Income
$ -!
367204
$ 44,040
$ , 51,3801
$ - 58;720
$ , 64,160
i$ . 69,600
$ , 76,560
$ - 83,524
$ , 90,480
$ , 97,4401
Sales price
$
1,482,500
$ 177,800
$ 007n00
$ 237,100
$ 259,000
$ 2331,000
$ 309,100
$ 337,200
$ 365,?00
$ 393,A00
FAMILY SIZE: 5
Income
$-',
39,650
$ 47,580
$ - 55,510
$ . 63;440
$ - i 69,310
$ 75,170
$ . 90,240
$ - 97,720
$ i 145,240
Sales price
$
160,100
$ 192,ln0
$ 224,100
$ 256,1no
$ 279,800
$ 303,500
$ 333,800
$ 364,200
$ 39,',500
$ a2a,900
FAMILY SIZE: 6
Income
Sales price
$:;
$
42,600
172,000
$ 53,120
$ 206,400
$,, 59,640;
$ 240,800
$; 68,160
$ 275,200 1
$; 74,4501$,,
$ 300,600 1
80,740
$ 326,000
$ 88,810 i
$ 358,600
$ 391,100
$: 104,960
$ 423,800
$ 456,300
FOR -SALE FINISHED LOTS GUIDELINES (Effective 12/05/2012)
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. '$150 per square foot cost is based on estimates by The County of Hawaii, Office of Housing & Community Development,
Development Division.
% of Median Income Affordable Home Price CostlUnit Affordable Lot Price
0% $ 237,100 165,000 $ 72,100
FOR -RENT GUIDELINES (Effective 12/05/2012)
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.
30%
$
io
385
s
$ 413
$ 495
$ 572
$ 639
50%
$
642
$ 688
$ 826
$ 954
$ 1,065
60%
%of Median 80%
$
$
771
1,028
$ 826
$ 1,102
$ 991
$ 1,322
$ 1,145
$ 1,527
$ 1,278
$ 1,704
Income 100%
$
1,218
$ 1,305
$ 1,566
$ 1,809
$ 2,018
120%
$
1,462
$ 1,566
$ 1,879
$ 2,171
$ 2,422
140%
1 $
1,705
1 $ 1,827 1
$ 2,192
1 $ 2,533 1
$ 2,826