Anyone is welcome to apply. HACPFC determines each applicant’s eligibility based upon several factors, including the following:
Income
At the time an HCV applicant’s name is near the top of the waitlist, the total household income must be 40% or less of area median income (AMI) for the Tri-Cities Metropolitan Area. Preference will be given to households that are at 30% or less of AMI.
FY 2020 Income Limits – Franklin County
Extremely Low-Income (30% of AMI)
| Franklin County Area Median Income: $77,500 |
|||
|---|---|---|---|
| Family Size | 2020 Income Limit Category | ||
| Extremely Low-Income (30% of AMI) |
Very Low-Income (50% of AMI) |
Low-Income (80% of AMI) |
|
| 1 | 16,300 | 27,150 | 43,400 |
| 2 | 18,600 | 31,000 | 49,600 |
| 3 | 21,720 | 34,900 | 55,800 |
| 4 | 26,200 | 38,750 | 62,000 |
| 5 | 30,680 | 41,850 | 67,000 |
| 6 | 35,160 | 44,950 | 71,950 |
| 7 | 39,640 | 48,050 | 76,900 |
| 8 | 44,120 | 51,150 | 81,850 |
Assets: Money, property, and other goods having value are taken into account when income is calculated. Income created from assets is included the determination of eligibility, but the actual value of the assets is not. For example, if an applicant has money in a savings account, that money will not be added to the applicant’s income. However, if the applicant earns interest from the money in that savings account, the interest will be considered part of the applicant’s annual income.