Below is a form to help you calculate your household income. The City of Raleigh Affordable Housing portfolio has strict income guidelines.
If your household does not meet these guidelines your application will be denied. Please use this interactive form to determine if you meet the income guidelines. Yearly income cannot exceed 50% of the current year’s median income for the Raleigh area based on family size. Please see the table below. Also, your rent cannot exceed 30% of your monthly income [Hourly rate _______ x hours worked per month _______ = Monthly income].
If you submit an application we require documentation for all listed sources of income.
If your household does not meet these guidelines your application will be denied. Please use this interactive form to determine if you meet the income guidelines. Yearly income cannot exceed 50% of the current year’s median income for the Raleigh area based on family size. Please see the table below. Also, your rent cannot exceed 30% of your monthly income [Hourly rate _______ x hours worked per month _______ = Monthly income].
If you submit an application we require documentation for all listed sources of income.
*NOTE: Meeting the income requirements does not guarantee that your application will be approved. You must also meet the credit and criminal requirements.
| FY 2024 Income Limit Area | Median Family Income | FY 2024 Income Limit Category | Persons in Family | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | |||
| Raleigh, NC MSA | $122,300 | Very Low (50%) Income Limits ($) | 42,850 | 48,950 | 55,050 | 61,150 | 66,050 | 70,950 | 75,850 | 80,750 |
| Extremely Low Income Limits ($)* | 25,700 | 29,400 | 33,050 | 36,700 | 39,650 | 42,600 | 47,340 | 52,720 | ||
| Low (80%) Income Limits ($) | 68,500 | 78,250 | 88,050 | 97,800 | 105,650 | 113,450 | 121,300 | 129,100 | ||
For the following properties, income cannot exceed 80% of the current year’s median income: NEW BERN AVE, FRIAR TUCK ROAD, HAVEN ROAD, COLEMAN STREET AND UJAMAA DRIVE.
ADD: Please add employment income for each person in the home
*We calculate your income BEFORE taxes/deductions
are taken out (your gross income)*
| Work Income | |||||
| Name & Employer | Hourly Rate | Hours per week | Weekly Income | Yearly Income |  |
|---|---|---|---|---|---|
| $ |
Total | ||||
Please add any supplemental income for each person in the home. ex. Child support (verifiable), SSI, Disability, VA Benefits, AFDC, etc.
| Supplemental Income Source | Amt. Received per Month | 12 Months | Yearly Income | |
|---|---|---|---|---|
| $ |
Total |
| YOUR TOTAL YEARLY HOUSEHOLD INCOME | $ |
| YOUR TOTAL MONTHLY HOUSEHOLD INCOME | $ |
| Number of People in Household | |
| Maximum Income Allowed (see chart at top) | $ |
| Monthly Rent of Property you are Applying For | $ | *3.33 | Min. Required Monthly Income | $ |
