Program Income Limits
On May 14, 2014, the New Jersey Council on Affordable Housing (COAH) published the new income limits for New Jersey’s six housing regions. The income limits are used to determine the eligibility of low- and moderate-income households, to price new sales and rental units, and to index the maximum resale price of existing sales units. These income limits are based on the U.S. Department of Housing and Urban Development’s (HUD) Section 8 income limits for the state’s six housing regions, which are defined by COAH.
In March of 2015, the New Jersey Supreme Court relieved COAH of its jurisdiction over the administration of affordable housing in New Jersey, so maximum income limits and other data have not been published by the State of New Jersey since 2014. As a result, although some towns are adopting their own income limits as approved by the courts, most municipalities continue to be regulated by the 2014 limits that had been published by COAH.
That having been said, it is important to note that the underlying federal data indicates that there has been very little change in the income limits since 2013, because of the stagnating median incomes.
We are in the process of updating our calculators for specific municipalities with court-approved increases. In the meantime, please feel free to contact us at info@HousingQuest.com if you have any questions or need additional information in this regard.
You can access the COAH Income Chart for 2014 to see the median income limits in each region. You can also utilize our calculator to find out the estimated current maximum sales price for an existing affordable home.
Please note that the income limits published by COAH apply only to state inclusionary programs. The COAH Income limits do NOT apply to HUD or USDA properties, or those governed by Low Income Housing Tax Credits, all of which utilize federally issued limits that were published during last month.
* We are in the process of updating the web site, and there may be some delay in posting the new limits to each property application form. We apologize for the inconvenience.