HomeMy WebLinkAbout2022 Affordable Housing GuidelinesAFFORDABLE HOUSING GUIDELINES FOR THE COUNTY OF HAWAI'I
FOR-SALE UNITS GUIDELINES (Effective 08/24/2022)
% of Median 50% 60% 70% 80% 90% 100% 110% 120% 130% 140%
Sales Price: Studio:$194,300.00 $233,100.00 $272,000.00 $310,900.00 $349,700.00 $388,600.00 $427,400.00 $466,300.00 $505,100.00 $544,000.00
1 person max family income:33,350$ 40,020$ 46,690$ 53,360$ 60,030$ 66,700$ 73,370$ 80,040$ 86,710$ 93,380$
7.2408% 7.2389% 7.2403% 7.2413%7.2400% 7.2408%7.2398% 7.2405%7.2396% 7.2403%$184,600 $221,500 $258,400 $295,300 $332,200 $369,100 $406,100 $443,000 $479,900 $516,800
Sales Price: 1 Bedroom:$222,000.00 $266,400.00 $310,700.00 $355,100.00 $399,500.00 $443,900.00 $488,300.00 $532,700.00 $577,100.00 $621,500.00
2 person max family income:38,100$ 45,720$ 53,340$ 60,960$ 68,580$ 76,200$ 83,820$ 91,440$ 99,060$ 106,680$
7.2416% 7.2416% 7.2393% 7.2396%7.2398% 7.2400%7.2402% 7.2403%7.2404% 7.2405%$210,900 $253,000 $295,200 $337,400 $379,600 $421,700 $463,900 $506,100 $548,200 $590,400
Sales Price: 2 Bedroom:$249,600.00 $299,600.00 $349,500.00 $399,400.00 $449,300.00 $499,300.00 $549,200.00 $599,100.00 $649,000.00 $699,000.00
3 person max family income:42,850$ 51,420$ 59,990$ 68,560$ 77,130$ 85,700$ 94,270$ 102,840$ 111,410$ 119,980$
7.2394% 7.2413% 7.2406% 7.2401%7.2397% 7.2409%7.2405% 7.2401%7.2399% 7.2406%$237,100 $284,600 $332,000 $379,400 $426,900 $474,300 $521,700 $569,200 $616,600 $664,000
Sales Price: 3 Bedroom:$277,300.00 $332,800.00 $388,200.00 $443,700.00 $499,100.00 $554,600.00 $610,100.00 $665,500.00 $721,000.00 $776,400.00
4 person max family income:47,600$ 57,120$ 66,640$ 76,160$ 85,680$ 95,200$ 104,720$ 114,240$ 123,760$ 133,280$
7.2402% 7.2411% 7.2399% 7.2406%7.2396% 7.2402%7.2407% 7.2400%7.2404% 7.2399%$263,400 $316,100 $368,800 $421,500 $474,200 $526,900 $579,600 $632,300 $684,900 $737,600
Sales Price: 4 Bedroom:$299,700.00 $359,700.00 $419,600.00 $479,600.00 $539,500.00 $599,500.00 $659,400.00 $719,400.00 $779,300.00 $839,300.00
5 person max family income:51,450$ 61,740$ 72,030$ 82,320$ 92,610$ 102,900$ 113,190$ 123,480$ 133,770$ 144,060$
7.2395% 7.2407% 7.2399% 7.2407%7.2401% 7.2407%7.2402% 7.2407%7.2403% 7.2407%$284,700 $341,700 $398,600 $455,600 $512,500 $569,500 $626,400 $683,400 $740,300 $797,300
Sales Price: 5 Bedroom:$321,900.00 $386,200.00 $450,600.00 $515,000.00 $579,400.00 $643,700.00 $708,100.00 $772,500.00 $836,900.00 $901,200.00
6 person max family income:55,250$ 66,300$ 77,350$ 88,400$ 99,450$ 110,500$ 121,550$ 132,600$ 143,650$ 154,700$ 7.2410%7.2395%7.2400%7.2404%7.2407%7.2399%7.2402%7.2404%7.2406%7.2400%
$305,800 $366,900 $428,100 $489,200 $550,400 $611,600 $672,700 $733,900 $795,000 $856,200
FOR-SALE FINISHED LOTS GUIDELINES (Effective 08/24/2022)
% of Median Income Affordable Home Price Cost/Unit Affordable Lot Price Credit
80% 443,700$ - 199,551$ =244,149$ 1
100% 554,600$ - 199,551$ =355,049$ 1/2
FOR-RENT GUIDELINES (Effective 08/24/2022)
Bedroom Size Studio One Two Three Four Credit(s)
30% 500$ 535$ 642$ 742$ 828$ 2
50% 833$ 893$ 1,071$ 1,238$ 1,381$ 2
60% 1,000$ 1,071$ 1,285$ 1,485$ 1,657$ 1 1/2
80% 1,334$ 1,429$ 1,714$ 1,981$ 2,210$ 1 1/2
100% 1,667$ 1,786$ 2,142$ 2,476$ 2,762$ 1
120% 2,001$ 2,143$ 2,571$ 2,972$ 3,315$ 1/2
140% 2,334$ 2,500$ 2,999$ 3,466$ 3,867$ 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. *$181.40 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
The following table presents income limits provided by Hawaii Housing Finance & Development Corporation (HHFDC), using the rates established by the U.S. Department of Housing and
Urban Development (HUD) for various family sizes.
The figures considers (1) a 30-year conventional fixed mortgage; (2) a fixed interest rate of 3%*; (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
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