What is Area Median Income (AMI)

Area Median Income (AMI) is a measure used to determine the median, or middle, income of a specific area. It is a crucial metric in the housing industry, used to assess the affordability of housing and to set eligibility criteria for various housing programs.

Importance of AMI

AMI is essential because it helps to:

• Determine Housing Affordability: It establishes benchmarks for affordable housing.

• Qualify for Housing Programs: Many housing assistance programs use AMI to determine eligibility.

• Set Rent Limits: It helps in setting rent limits for affordable housing units.

How is AMI Calculated?

The U.S. Department of Housing and Urban Development (HUD) calculates AMI annually for different geographic areas. The calculation considers household income levels within a specific region and adjusts for household size.

AMI in Sedona

Because Sedona is located in both Coconino and Yavapai Counties we have two sets of AMI and rent limits based on the latest data provided by HUD. Here’s a breakdown per county of the AMI and corresponding rent limits for different household sizes:

Frequently Asked Questions (FAQs)

Q: How often is AMI updated?
A: AMI is updated annually by HUD.

Q: Why is AMI important for housing programs?
A: AMI helps ensure that housing assistance is provided to those who need it most based on income levels.

Q: Can AMI vary by household size?
A: Yes, AMI varies depending on the number of people in a household.