Median definition
Examples of Median in a sentence
The gross monthly cost for Very Low Income is the product of 30 percent times 50 percent of the Orange County Area Median Income adjusted for household size appropriate to the unit, (as shown in Table 1).1 1 “Adjusted for household size appropriate to the unit” shall mean for a household of one person in the case of a studio unit, two persons in the case of a one-bedroom unit, and three persons in the case of a two-bedroom unit.
The term Area Median Gross Income shall mean the median gross income of the area in which the Project is located as determined by the Secretary of Housing and Urban Development in a manner consistent with the determination of area median gross income under Section 8 of the Housing Act, with adjustments for family size.
Rent increases for Income-Restricted Units may not allow rents paid by Tenants to exceed the rental rate requirements established above, and shall be based on Area Median Income increases for the household sizes and income levels specified in this Article IV, as published annually by HUD for the Washington, D.C. Metropolitan area.
Developer shall pay for the maintenance, replacement, and electricity costs and expenses for the Public Improvements fronting the Project, including, but not limited to street lights, Mission Landscape Median, parkway landscaping, and two traffic signals.
The Owner shall restrict rents for the units in the Project occupied, or held for occupancy, by Qualifying Tenants to an amount which does not exceed 30% of 50% of Median Income.