Federal income numbers for Austin are up, by about 11 percent
Wednesday, April 20, 2022 by Elizabeth Pagano
Though not yet in use by the city of Austin, the U.S. Department of Housing and Urban Development has released its 2022 Income Limits. The median family income for the Austin-Round Rock MSA is now $110,300, up from $98,900 in 2021. Why is this important? Aside from being another indicator of Austin’s frenzied growth, the city and the county both use MFI to calculate affordability for housing. So, somewhat affordable housing for those earning 80 percent MFI would be built for a family of four with an income of $88,250, which is now considered “low income” by HUD. A family of four at 50 percent MFI, or $55,150, is considered “very low income” for the area. That said, the city and county have yet to adopt the new numbers. That might take a few weeks.
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