The median family income for Travis County is reported each year by the Department of Housing and Urban Development – HUD. It is used to establish median earnings for a give family size, and this data is used for income qualification.
For example, say you are a family of 4 wanting to participate in the City of Austin Downpayment Assistance Program or the Mueller Affordable Purchase Program, both of which have an income qualification of below 80% MFI. If you check out the latest annual release of data, which is 2010 right now, you can see that your annual household income would need to be less than $59,050 (see below)
Likewise, if you were looking at the Mueller Affordable Rental income guidelines, that is below 60% of the median family income, which for two people is $35,460.
The revised annual HUD figures are typically released around spring of each year. The most up to date copy is normally linked at the City of Austin‘s website.
Garreth Wilcock is a Realtor at Sherlock Homes Austin – call +1 (512) 829-1351for any questions about affordable programs in town.