Income Limits and Affordable Rent Limits- 2023

Housing affordability means that a household is not spending more than 30% of total income on the rent or mortgage payment. Eligibility for affordable housing programs and units reserved for low- and moderate-income households is based on income thresholds set by the Department of Housing and Urban Development (HUD). The area median income “AMI” is calibrated annually based on statistical areas reflecting residential and commercial market patterns. Below is a chart showing the income and rent limits for affordable housing programs and units in Cary.

Percent of AMI	Household of 1	Household of 2	Household of 3	Household of 4	Household of 5	Household of 6	Household of 7	Household of 8
10%	$7,940	$10,200	$11,300	$11,300	$12,240	$13,150	$14,050	$14,960
20%	$15,880	$18,140	$22,660	$22,660	$24,480	$26,300	$28,100	$29,920
30%	$23,800	$27,200	$34,00	$34,000	$36,750	$39,450	$42,200	$44,900
40%	$31,760	$36,280	$40,800	$45,320	$48,960	$52,600	$56,200	$59,840
50%	$39,700	$45,350	$51,000	$56,650	$61,200	$65,750	$70,250	$74,800
60%	$47,640	$54,420	$61,200	$67,980	$73,440	$78,900	$84,300	$89,760
65%	$51,610	$58,955	$66,300	$73,645	$79,560	$85,680	$91,325	$97,240
70%	$55,580	$63,490	$71,400	$79,310	$85,680	$92,050	$98,350	$104,720
80%	$63,500	$72,550	$81,600	$90,650	$97,950	$105,200	$112,450	$119,700
90%	$71,460	$81,630	$91,800	$101,970	$11,160	$118,350	$126,450	$134,640
Area Median Income	$79,400	$90,700	$102,200	$113,300	$122,400	$131,500	$140,500	$149,600

Percent of AMI	Efficiency Unite	1 Bedroom	2 Bedrooms	3 Bedrooms	4 Bedrooms	5 Bedrooms
30%	$595	$637	$765	$883	$986	$1,087
40%	$794	$850	$1,020	$1,178	$1,315	$1,450
50%	$992	$1,063	$1,275	$1,473	$1,643	$1,813
60%	$1,191	$1,275	$1,530	$1,767	$1,972	$2,175
70%	$1,389	$1,488	$1,785	$2,062	$2,301	$2,538
80%	$1,588	$1,701	$2,040	$2,357	$2,630	$2,901
Low Income Housing Tax Credit (LIHTC) Affordable Rent Limits