Income Guidelines for 2008
Habitat Wake offers homeownership opportunities to people living on modest incomes. Applicants must have income that falls within a range of minimum and maximum amounts. For clarification on the income and employment criteria, click on these links:
Income guidelines are based on Housing Urban Development (HUD) Area Median Income (AMI) that is between 25%-60% for the Wake County area. The income information that is current as of March 2008 is represented in the charts below. This information is updated one a year.
Income Guidelines: Annual Gross
Household Annual Gross Income to Apply for a Home built by Habitat Wake
| Household Size (number of people) | Annual Minimum Income | Annual Maximum Income |
| 1 | $13,080 | $31,465 |
| 2 | $14,955 | $35,925 |
| 3 | $16,830 | $40,425 |
| 4 | $18,705 | $44,925 |
| 5 | $20,205 | $48,525 |
| 6 | $21,705 | $52,125 |
| 7 | $23,205 | $55,725 |
| 8 | $24,205 | $59,290 |
Please refer to the section "Income & Employment" on the homeownership application. On the color application, the section is blue. Amounts for Annual Gross Income assume 52 weeks per year. Minimum Income indicated is 25% AMI. Maximum Income indicated is 60% AMI. "Gross" income is income before taxes are subtracted.
An example of how to interpret the Household Annual Gross Income chart:
- A household with two adults and three children has 5 people.
- Income before taxes including wages from full-time and part-time jobs as well as non-working income from child support, social security income and/or disability must be added together.
- The household’s annual gross income before taxes must be:no less than $19,325 and no more than $46,380.
Income Guidelines: Monthly Gross
Household Monthly Gross Income to Apply for a Home built by Habitat Wake| Household Size (number of people) | Monthly Minimum Income | Monthly Maximum Income |
| 1 | $1,090 | $2,622 |
| 2 | $1,246 | $2,994 |
| 3 | $1,403 | $3,369 |
| 4 | $1,559 | $3,744 |
| 5 | $1,684 | $4,044 |
| 6 | $1,809 | $4,344 |
| 7 | $1,934 | $4,644 |
| 8 | $2,059 | $4,941 |
Please refer to the section "Income & Employment" on the homeownership application. On the color application, the section is blue. The income levels in this chart are the Annual Gross Income levels divided by 12. Minimum Income indicated is 25% AMI. Maximum Income indicated is 60% AMI. "Gross" income is income before taxes are subtracted.
An example of how to intepret the Household Monthly Gross Income chart:
- A household with two adults and three children has 5 people.
- Income before taxes including wages from full-time and part-time jobs as well as non-working income from child support, social security income and/or disability must be added together.
- The household’s monthly gross income before taxes must be:no less than $1,684 and no more than $4,044.
