On April 1, 2024, HUD released the 2024 Income limits. Owners/agents of properties participating in HUD’s Multifamily Housing Programs must utilize these 2024 income limits when processing Move-Ins and Initial Certifications effective April 1, 2024 or later.

For owners/agents of Low Income Housing Tax Credit (LIHTC) properties, Multifamily Tax Subsidy Program (MTSP) income limits must be implemented on the effective date or 45 days after the publication date, whichever is later, per Revenue Ruling 94-57. This means this year’s MTSP income limits for the LIHTC program must be implemented no later than May 15, 2024.

Owner/Agents must verify the appropriate income limits are loaded into their compliance software. If Management uses a Service Bureau to process certifications, please check with the Service Bureau to verify who will be responsible for updating the data. If PMCS is processing your property’s certifications, we will be responsible for loading the appropriate income limits into your compliance software.