Income and Affordable Rent Guidelines

2024 Income Guidelines

Boise City Median Income for a household of four is $98,700.

2024 Income Guidelines go into effect for CDBG programs on 5/1/24 and will go into effect for HOME programs on 6/1/24.

(120% of Median Income)

Household SizeAnnual Gross IncomeAffordable Rent*
1 Person$82,938$2,073
2 Person$94,797$2,370
3 Person$106,656$2,664
4 Person$118,440$2,961
5 Person$127,958$3,199
6 Person$137,399$3,435
7 Person$146,917$3,673
8 Person$156,359$3,909

(100% of Median Income)

Household SizeAnnual Gross IncomeAffordable Rent*
1 Person$69,115$1,728
2 Person$78.998$1,975
3 Person$88,880$2,222
4 Person$98,700$2,468
5 Person$106,631$2,666
6 Person$114,500$2,862
7 Person$122,431$3,061
8 Person$130,299$3,257

(80% of Median Income)

Household SizeAnnual Gross IncomeAffordable Rent*
1 Person$54,900$1,373
2 Person$62,750$1,569
3 Person$70,600$1,765
4 Person$78,400$1,960
5 Person$84,700$2,118
6 Person$90,950$2,274
7 Person$97,250$2,431
8 Person$103,500$2,588

(60% of Median Income)

Household SizeAnnual Gross IncomeAffordable Rent*
1 Person$41,160$1,029
2 Person$47,040$1,176
3 Person$52,920$1,323
4 Person$58,800$1,470
5 Person$63,540$1,589
6 Person$68,220$1,706
7 Person$72,900$1,823
8 Person$77,640$1,941

(50% of Median Income)

Household SizeAnnual Gross IncomeAffordable Rent*
1 Person$34,300$858
2 Person$39,200$980
3 Person$44,100$1,103
4 Person$49,000$1,225
5 Person$52,950$1,324
6 Person$56,850$1,421
7 Person$60,750$1,519
8 Person$64,700$1,618

(30% of Median Income)

Household SizeAnnual Gross IncomeAffordable Rent*
1 Person$20,600$515
2 Person$23,550$589
3 Person$26,500$663
4 Person$29,400$735
5 Person$31,800$795
6 Person$34,150$854
7 Person$36,500$913
8 Person$38,850$971

*Households that pay more than 30% of their income for housing are considered cost burdened and may have difficulty affording necessities. (reference: www.hud.gov)

Passbook Savings Rate

As of June 15, 2023, the City of Boise has established its own passbook savings rate for use in its HUD-assisted programs and services.

When determining household eligibility for HUD-assisted programs, net assets must be considered in the income calculation. If a household’s asset(s) exceed the threshold established by HUD[1], the income calculation must include the greater of the actual income from the asset(s) or a percentage of the value of the asset(s), based on the passbook savings rate. The passbook savings rate represents the interest an asset would earn in a typical savings account.

The passbook savings rate in effect from June 15, 2023 - December 31, 2023 is 0.33%. As of January 1, 2024, the passbook savings rate will be 0.4%.

The City of Boise has updated its Passbook Savings Rate Policy to align with the standards established through the HOTMA Final Rule.

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[1] The threshold established by HUD in 24 CFR 5.609(b)(3) is $5,000.

HOTMA Final Rule

The HOTMA Final Rule implementation date has been delayed to 1/1/2025. When the rule does go into effect, the household asset threshold will be raised to $50,000 and adjusted annually for inflation. More information can be found in HUD's Final Rule Notice issued December 8, 2023.

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