The following documents are useful resources for partners participating in one of the City’s affordable housing incentive programs. These documents reflect the most current limits and are updated annually, and remain in effect until the new analyses are published, typically between June and September each year.
Current Income and Rent Limits
HUD releases median family incomes and rent limits annually. Median incomes are used as the basis for income limits in facilities and services funded by several HUD and Housing Levy Programs. HUD also provides HOME program rent limits annually, which include average occupancy per unit and adjusted income assumptions. Most programs funded by the City are required to target households below certain income thresholds, and these are the income and rent limits used as a basis for those targets. All housing funded by the City is required to abide by specific rent limits, according to contract. City-funded housing must follow either the HOME rent limits (for federal HOME-funded units in the project) or City rent limits (formerly referred to as Levy rent limits).
Bellingham Rent Payment Standard
The City of Bellingham conducts an independent study of current market rents by unit type each year. The study is based on actual market-rate rents published over a 30-day period in the summer, compared to the Department of Housing and Urban Development (HUD)’s current Fair Market Rents.
This payment standard should be utilized by Rental Assistance services programs funded by the City, with contracts that reference the City’s Rent Payment Standard.
Bellingham Home Sales Market Analysis
An analysis of all home sales within Bellingham City Limits for the previous calendar year, based on data from the Whatcom County Assessor.
City programs that fund activities related to owner-occupied homes often reference a limit of 95% of home values in relation to homes, homeowners, or home buyers eligible for City assistance. That 95% limit is updated annually and indicated in the document linked here.
