Question: Why is the cost of living going up so much?
1--Higher taxes to feed HGEA/HSTA/UPW.
2--Higher utility bills to feed Elon Musk.
3--Higher housing costs due to artificially restricted land supply to benefit KSBE and A&B.
Now, as a result of the higher cost of living, HUD has upped the income limits for subsidized ‘affordable’ housing. This means that higher rents can now be charged.
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Report: In Honolulu, $40K salary now considered 'very low income'
HNN: The U.S. Department of Housing and Urban Development has released its income limits for 2018 — a calculation that is used to determine who can qualify for affordable and subsidized housing programs, and also helps establish fair market rent.
HUD income limits in Hawaii are increasing substantially — in some cases by more than 10 percent — as the cost of living jumps each year. This means more people are qualifying for public assistance through housing vouchers or Section 8 placement, but those options are still as limited as before.
According to HUD, as of 2018, low income for a single person in Honolulu is someone making up to $65,350. Just a year ago, it was $58,600. That's a nearly $7,000 increase from 2017.
A family of four in Honolulu can now make up to $93,300 and still be considered low income. That's up $9,600 from just a year ago, or more than 11 percent.
A person living on Oahu and making $40,850 is now "very low income." For a family of four, it's $58,300. These figures are also up from 2017.
These numbers are important because the HUD uses them to establish the requirements for people applying for public housing or housing vouchers.
HUD sets lower income limits at 80 percent and very low income limits at 50 percent of the median income for the county or metro area where you live.
Income limits vary depending on which county you live in.
At $96,000, Honolulu has the highest by far; followed by Kauai at $87,000; Maui and Molokai both at $81,400; and then Hawaii Island at $47,200.
According to HUD, the median family income for the state of Hawaii is now $88,300….
CB: $93K Is Now Considered Low-Income For Honolulu Family Of 4
read … Report: In Honolulu, $40K salary now considered 'very low income'
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Oahu residents are likely to see their rent go up
KHON: A two-bedroom affordable unit that rented for $1,177 last year, can go up to $1,312 this year. That's an increase of $135 a month. So what's driving it up and what else is affected?
The increase is triggered by the U.S. Department of Housing, which raised the limits for affordable housing. It does mean more people will qualify for it. But it comes at a higher price.
In order to be eligible for affordable housing in Honolulu last year, someone could not earn more than $86,600. This year, that's gone up $96,000, an 11% increase. Experts say it essentially gives property owners the green light to raise the rent just as much. …
read … Oahu residents are likely to see their rent go up
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2018 AMI, affordable housing income limits released
News Release from City and County of Honolulu, April 23, 2018
The Department of Planning and Permitting (DPP) has released the 2018 area median income (AMI) for Honolulu and affordable housing income limits, which serve as guidelines in qualifying purchasers and renters for affordable units as part of Unilateral Agreement conditions adopted in zone change amendments.
The affordable housing income limits are based on the AMI set by the U.S. Department of Housing and Urban Development (HUD). This year, HUD determined that the city’s AMI is $96,000, an increase of nearly 11 percent from last year’s $86,600. This is the largest year-over increase for Honolulu since HUD began releasing AMI figures in 1990.
The DPP translates the HUD AMI to determine home prices and rental guidelines for various income groups in Honolulu. For example, the limit for a household of four at the median level (100 percent) in 2018 is $116,600, up from last year’s $104,600. The maximum monthly rent for this household is $2,756 for a two-bedroom unit, according to DPP calculations.
The information is key because it is used by developers to set affordable homes sales prices and rents based on income groups and household size. Developers are typically required to provide a certain percentage of affordable units in a housing project when land is rezoned to permit the residential community.
A complete list of the 2018 affordable housing income limits and maximum prices by income groups and household size is available at https://bit.ly/2EV8ZLb.
Big Q: Do you now qualify for “low-income” housing on Oahu (earning up to $65,350 if single, or $93,300 for a family of four)?