Maximum Affordable Sales Prices

Affordable Housing Maximum Sales Prices

Effective May 15, 2023 until MFI is updated by HUD in 2024

0 - 50%50% - 80%80% - 120%Over 120%
Studio$82,674$178,858$275,400No set price
1 Bedroom$97,263$210,421$324,000No set price
2 Bedroom$111,158$240,526$370,211No set price
3 Bedroom$124,842$270,737$416,526No set price

(Link) Maximum Sales Price Chart for Printing (PDF)

Maximum sales prices of homes in the Affordable and Workforce categories are for newly constructed units. They are based on the following assumptions:

  • 5% down payment and 5.37% mortgage interest (20 year average rate for 30 year mortgage)
  • 30% of a household’s income towards housing costs
  • Based on the Mid-range of each income range. For example, the mid-range of the 50 - 80% income range is 65% (see chart, below)
  • One person per bedroom

Income Calculation Chart 2023

(Link) Income Range Chart for Printing (PDF)