Understanding HUD Income Limits: How They Impact Your AMI and Down Payment Assistance Eligibility

By: Eboni Killian, Managing Broker

We’ve explored Area Median Income (AMI) and its importance in determining eligibility for down payment assistance in my blog, Understanding AMI: What is AMI, and what does it mean to you? Now, it’s time to discuss another critical tool in affordable housing: HUD Income Limits.

Every year, HUD (Housing and Urban Development) updates its income limit charts, which remain valid until May of the following year—or until the next update is released. That means the 2024 HUD Income Limits are effective through May 2025. Earlier this year, HUD released the 2024 Income Limits for the Atlanta Metro area, and these numbers are essential for understanding AMI eligibility and accessing assistance for homeownership programs. 

Here is the Fiscal Year  2024  HUD Income Limits for the Atlanta Area:

But how do these limits work alongside AMI? HUD Income Limits set the maximum income levels for households to qualify for affordable housing programs, including rental assistance, subsidized housing, and homeownership support. These limits are directly tied to AMI and are broken down by household size. For example, a family earning 80% of the AMI in Metro Atlanta might qualify for programs designed to lower housing costs or provide financial support. There are programs out there for buyers that fall under 120% of AMI.  Do you?  If so, please reach out to us to see if you qualify for any of these incentive programs.

For home buyers, HUD Income Limits are often used to determine eligibility for down payment assistance programs. These programs help bridge the financial gap for first-time buyers, covering part of the down payment or closing costs that could be the difference in you getting to the closing table and becoming a homeowner. If your household income falls inside HUD’s designated limits, you could qualify for grants, forgivable loans, or other resources that make homeownership more attainable.

Here’s the bottom line: HUD Income Limits and AMI go hand-in-hand to make housing accessible. By understanding where you fall on the income scale, you can better position yourself to take advantage of these opportunities. Programs like these are not just about securing housing—they’re about creating pathways to stability, equity, and stronger communities.

At Sovereign Realty & Management, we’re committed to helping renters, homebuyers, and homeowners confidently navigate these programs. By leveraging tools like AMI and HUD Income Limits, we connect individuals and families to the resources they need to achieve their housing dreams. Whether you’re a first-time homebuyer, a senior downsizing or looking for ways to make housing more affordable, we’re here to guide you every step of the way.

If you’re curious about how HUD’s 2024 Income Limits might impact your eligibility for affordable housing or down payment assistance, let’s connect! Together, we can take the steps to unlock opportunities and build stronger, thriving communities across Metro Atlanta.