It's the first time that the San Antonio-New Braunfels area median income has decreased since 2016.
Local and regional housing officials said this week that a minor, 0.1% decrease in AMI won't be felt by a vast majority of residents in the area who rely on housing assistance.The area median income for a family of four living in the San Antonio-New Braunfels region decreased by $100 — from $88,600 to in April. These determine whether a household in a certain region is eligible for HUD-funded rent subsidies and other housing assistance programs.
AMI plays an important role in policymaking and development. HUD uses AMI to set rents for those living in federally subsidized housing, while local officials use AMI to direct funding toward specific housing goals. Developers use it to build housing that qualifies for public funding.
"Programming for households in need includes everything from rental assistance, downpayment assistance, home repair, and even funding for the construction and rehabilitation of affordable housing," Gonzales said."Those who have the lowest income will, in general, be able to apply for more types of programs." and inflation estimates, calculating the range of incomes in a region. The midpoint, or median, of those incomes is the AMI.
AMI-based rent limits — capped at 30% of income — are a ceiling, not a floor; HUD does not require property managers to raise or charge rents to the maximum allowed under the calculation.
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