Revisions to the Calculation of Annual Household Income and Net Family Assets in the Section 515 Rural Rental Housing and Section 514/516 Farm Labor Housing Programs

Summary

The Rural Housing Service (RHS), a department of the US Department of Agriculture (USDA), has revised its regulations to update how it calculates annual household income and net family assets for properties funded by the Section 515 Rural Rental Housing and Section 514/516 Farm Labor Housing programs. This change aims to align the agency's income certification requirements with the Housing Opportunity Through Modernization Act of 2016.