The Department of Housing and Urban Development (HUD) has released its Area Median Income (AMI) updates for 2023. Key takeaways include:
-
The DC Metro AMI has increased by about 7% over last year.
-
The 2023 median income is $152,100 for a family of four, and $106,500 for a single person household.
-
“Low Income” by HUD for the DC Metro in 2023 is anything up to $95,300 for a family of four, and anything up to $66,750 for a single person.
-
HUD’s definition of “low income” is normally any salary up to 80% AMI. However, because we have such a high cost of living in the DC Metro, HUD adjusts the low income threshold downward to bring it closer to the national median. Mathematically, the income limits for an “80% AMI” unit in the DC Metro may be closer to 63%.
-
Some programs, like Housing Alexandria’s planned homeownership program, may use a “math 80%” instead of a “HUD 80%” when setting income limits. In this case, the “math 80%” is $120,560 for a family of four, and $84,400 for a single person.
-
See our AMI Info Sheet below for more details (or open it as a PDF):
