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#329353 - 03/04/05 04:34 PM HUD 2005 Income Limits
Anonymous
Unregistered

HUD has published the annual update to the median family income limits for 2005.

On the "Tables for 1999 and Estimated 2005 Decile Distributions by Metropolitan Statistical Areas and Non Metropolitan Counties", I noted that the MSA areas displayed had not been updated to the new boundaries that were effective in 2004.

Does anyone know why the new MSA boundaries would not have been used? I have emailed the help desk@huduser and am awaiting a reply, but I thought my astute colleagues might have more information, so I wanted to post this here too.

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CRA
#329354 - 03/04/05 05:07 PM Re: HUD 2005 Income Limits
Don_Narup Offline

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Joined: Jul 2001
Posts: 3,708
Las Vegas Nevada
They just have not updated their database and consequently the 2005 figures published with old MSA's are useless for those areas that had county additions or deleations to the new MSA boundry's.
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#329355 - 03/04/05 05:48 PM Re: HUD 2005 Income Limits
Sinatra Fan Offline
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Joined: Jul 2002
Posts: 5,568
New Jersey
Thanks, Don. That's what I concluded, too, but I was afraid I was missing something.

HUD gets a "Needs to Improve" on this.
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#329356 - 03/04/05 07:24 PM Re: HUD 2005 Income Limits
Anonymous
Unregistered

So where do we get the income limits for these areas to use for CRA programs?

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#329357 - 03/04/05 07:32 PM Re: HUD 2005 Income Limits
Don_Narup Offline

Power Poster
Joined: Jul 2001
Posts: 3,708
Las Vegas Nevada
If your MSA did not change then use the old MSA number HUD has. If it changed then you don't use the figures and start contacting HUD.

Examiners will have the same problem so IMO contact your examiner and ask them what they are doing.
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#329358 - 03/06/05 01:53 AM Re: HUD 2005 Income Limits
Len S Offline
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Joined: Oct 2004
Posts: 2,084
Connecticut
Normally the HUD MSA EMFI data are available around the end of the first Quarter. Last year it was delayed until August because of the implementation of the new MSA's. I believe the FFIEC will pubish the 2005 data sometime in the next 30-60 days. Until then you have no choice but to use the latest data available, the 2004 EMFI's. There shouldn't be much of a difference between 2004 and 2005 when it is released. Last year there was a big change because the redefinition of the MSA's involved changes in the census tracts that compose each MSA and therefore a number of MSA's had significant changes in their EMFI.
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#329359 - 03/07/05 10:38 PM Re: HUD 2005 Income Limits
Reads Regs Offline
Diamond Poster
Joined: Nov 2004
Posts: 2,307
HUD posted the revised 2005 data for the new MSA/MD areas. See this web page.
http://www.huduser.org/datasets/il/IL05Est/index.html

Go to this web page. http://www.huduser.org/Datasets/IL/IL05Est/FY2005Medians_CBSA.pdf to find the data for the states you need.
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