A special tabulation of Median Family Income (MFI) estimates from the 2017-2021 5-year ACS was prepared by the U.S. Census Bureau and used by HUD as the basis for calculating HUD's FY2024 MFIs. Estimates of MFI from this tabulation are used if they are determined to be statistically reliable. For FY2024, the test for reliability is whether the margin of error for the estimate is less than 50% of the estimate itself and whether the ACS estimate is based on at least 100 survey cases.
Note: HUD began using the count indicator in assessing statistical reliability beginning with the FY 2024 Fair Market Rent estimates. HUD does not receive the exact number of survey cases in this special tabulation, but rather a categorical variable known as the count indicator, indicating a range of cases. An estimate based on at least 100 cases corresponds to a count indicator of 4 or higher.
If an area does not have a reliable 2017-2021 5-year estimate, HUD checks whether the area has had minimally reliable estimates in any of the past 3 years (a minimally reliable estimate is an estimate where the margin of error for the estimate is less than 50% of the estimate itself). If so, the FY2024 MFI is the average of the inflated ACS estimates. In order to use as much local data as possible, HUD averages the minimally reliable estimates from the last three 5-year ACS estimates.
If an area has not had a minimally reliable estimate in the past 3 years, HUD checks whether the area has had minimally reliable estimates in any of the past 2 years. If so, the FY2024 MFI is the average of the inflated ACS estimates. In order to use as much local data as possible, HUD averages the minimally reliable estimates from the last two 5-year ACS estimates.
If an area has not had a minimally reliable estimate in the past two years, the estimate from the next larger encompassing geography is used. For example, sub-areas of metropolitan areas would be assigned the MFI estimate of the entire metropolitan area and for non-metropolitan counties, the estimate from all non-metrpolitan potions of the State (state non-metropolitan).
If there is a statistically reliable 2021 1-year ACS estimate of median family income available, HUD replaces the 5-year data with the 1-year data. does not have published, statistically reliable local area 1-year 2021 ACS results.
Once the appropriate 2021 ACS data has been selected, an inflation factor based on the CBO projection of the national CPI for FY2024 is calculated to inflate the estimate from 2021 to April, 2024 (or mid FY2024). Note: The CPI projection used in this calculation is from the CBO's January 2024 release of it's 10-Year Economic Projections.
| Area | ACS2021 5-Year Median Income |
ACS2021 5-Year Margin of Error |
Ratio | Sample Size Category | Result |
|---|---|---|---|---|---|
| / = |
>= .5 or < 4 Estimate Not Reliable |
| Area | ACS2021 Non-Metro MFI |
|---|---|
| Area | FY2024 CPI | 2021 Annual CPI | CPI Inflation Factor |
|---|---|---|---|
| 260.3 | 245.12 | (260.3 / 245.12) = 1.06193 |
| Area | ACS2021 Non-Metro MFI | CPI Inflation Factor | FY 2024 Area MFI Estimate |
|---|---|---|---|
| 1.06193 | ( * 1.06193) = ODBscript Error: Non-numeric expression: (null) * 1.061929 $245 |
| Area | Unrounded FY 2024 MFI Estimate |
Rounded FY 2024 MFI Estimate |
|---|---|---|
| $245 | $200 |
NOTE: Due to differences in the computing platforms used to generate the official FY 2024 MFI estimates, and this web system, the calculated value shown may differ slightly from the official published value because of rounding.
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