HUD Area Median definition
HUD Area Median means the annual median family incomes for the Minneapolis-St. Paul Standard Metropolitan Statistical Area, as published annually by the United States Department of Housing and Urban Development.
Examples of HUD Area Median in a sentence
At least 50% of the total tax credit units ( units) must be one bedroom or less with rents affordable to persons with income not to exceed 30% of the HUD Area Median Income (AMI).
If the agency fails to enter into a ratified sales contract, the property shall be listed as a rental property and rented within 9 months from the date of receiving a certificate of occupancy to a household at 60% or below the most current HUD Area Median Income limit for the City of Columbia.