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HUD Issues Fiscal Year 2005 Median Income Estimates

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HUD has just released the estimated median family
income and income distribution estimates for fiscal
year 2005. The estimates are for 356 metropolitan
areas and 2,302 non-metropolitan areas in the U.S.
and its territories. The estimated median family
income for the U.S. for FY 2005 is $58,000.

HUD's median income estimates are of interest to
housing and community development professionals
because they are used as the basis for income
limits for several HUD programs, including the
Public Housing, Housing Choice Voucher, CDBG, and
HOME programs. These estimates are also used to
establish the income limits for the Department of
Agriculture's Rural Housing program and the
Department of Treasury's Low Income Housing Tax
Credit program.

Of the 2,658 metropolitan and non-metropolitan areas,
ninety percent experienced median income increases of
five percent or less. Twenty-seven areas (or one percent)
of all areas experienced an increase in the median income
estimate of between 110 and 120 percent. The areas with
the highest increases in median incomes were located in
eighteen states.

The Fiscal Year 2005 HUD median family income estimates
are based on 2000 Census data on family incomes updated
to 2005 using Census P-60 median family income data,
Census American Community Survey data on changes in state
median family incomes, and local Bureau of Labor
Statistics wage data.

The FY 2005 HUD income estimates and income limits are
available as a free download from HUD USER at
https://www.huduser.gov/portal/datasets/il.html#2005

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