Very low-income household definition

Very low-income household means a household with a total gross annual household income equal to 30 percent or less of the median household income.

Very low-income household means a single person,

Very low-income household means a single person, family,

Examples of Very low-income household in a sentence

• Borrower shall then (i) rent the next available Unit to a Very Low Income Household to comply with the requirements of Section 2.1(b) above, at a Rent not exceeding the Low HOME Rent, or (ii) designate another comparable Unit that is occupied by a Very Low Income Household as a Very Low Income Unit, to comply with the requirements of Section 2.1(b) above.

• Each HOME-Assisted Unit must be rented to and occupied by an Extremely Low Income Household or a Very Low Income Household pursuant to this Section 2.1 on or before the date that occurs eighteen (18) months after the Completion Date.

• If, upon the annual certification of the income of a Tenant of a Very Low Income Unit, Borrower determines that the Tenant’s income has increased above the qualifying limit for a Very Low Income Household, but not above the qualifying income for a Low Income Household, the Tenant may continue to occupy the Unit and Borrower shall continue to charge such Tenant the Low HOME Rent.

More Definitions of Very low-income household

Very low-income household means a person, a family, or unrelated persons living together whose adjusted household income is not more than 50% of the area median income, as determined by the authority.

Very low-income household means a household whose income shall be no more than 50% of AMI.

Very low-income household means a single person, family, or unrelated persons living together whose adjusted income is at or below fifty percent of the median household income adjusted for household size, for the county where the household is located, as reported by the United States department of housing and urban development.

Very low-income household means a household whose income does not exceed 50% of the area median income, adjusted for household size.

Very low-income household means an individual or family unit whose gross annual income does not exceed 50% of the area median income, adjusted for family size.

Very low-income household means a household with a total

Very low-income household means a household whose annual gross income does not exceed fifty percent (50%) of the Area Median Income, adjusted for Actual Household Size.