May 22, 2023
Columbus, Ohio
2023 LIHTC Income Limits Released

On May 15, 2023, the United States Department of Housing and Urban Development (HUD) released the 2022 Multifamily Tax Subsidy Project (MTSP) Income Limits with an effective date of May 15, 2023. MTSP Limits include Housing and Economic Recovery Act of 2008 (HERA) special limits and are subject to change each year; however, a project can "hold harmless" or maintain the use of an existing limit when a new limit decreases. When determining the applicable limits to be used at a property, the following additional regulations must be considered and followed when applicable:

  • Housing Tax Credit projects with either HOME or Housing Development Gap Financing (HDAP) must use the current HOME limits for all HDAP-assisted units. Units using HOME, Ohio Housing Trust Fund (OHTF) and National Housing Trust Fund (NHTF) must continue to use the 2022 HOME and/or NHTF income and rent limits until HUD issues the 2023 HOME and NHTF income and rent limits (see further information below). 

  • Projects financed with HUD programs, such as Section 8 or Rural Development 515, cannot use the HERA income and rent limits and must use current MTSP Limits.

The MTSP Limits are for use by Housing Tax Credit and multifamily bond projects. You can access the 2023 MTSP Income and Rent Limits here. OHFA will post the 2023 limits based on the 50% and 60% area median income (AMI) for all 88 counties in Ohio by June 1, 2023. The limits will also be available in DevCo Online by June 15, 2023. Owners have 45 days (by June 28, 2023) to implement the new limits.  
HUD HOME and NHTF Income and Rent Limits Released

HUD posted the HOME and HTF income and rent limits on May 17, 2023. Both HOME and HTF limits are effective June 15, 2023. Projects with HOME and OHTF units must use the HOME income and rent limits. Projects with NHTF units must use the HTF income and rent limits.
 
2023 HOME and HTF Rent and Income limits are now posted on our website.
 
OHFA's Annual HOME and HTF Rent and Occupancy Report form is currently being updated. Once the form is complete, the new form will be available online along with the due dates for this year. 

Thank you for your patience.
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