FHFA's rules: "very low-, low-, and moderate-income" defined
The FHFA's rule defines the terms "very low-, low-, and moderate-income":
The term ''low-income'' means--(A) in the case of owner-occupied units, income not in excess of 80 percent of area median income; and(B) in the case of rental units, income not in excess of 80 percent of area median income, with adjustments for smaller and larger families
The term ''moderate-income'' means-- (A) in the case of owner-occupied units, income not in excess of area median income; and (B) in the case of rental units, income not in excess of area median income, with adjustments for smaller and larger families
The term ''very low-income'' means-- (i) in the case of owner-occupied units, families having incomes not greater than 50 percent of the area median income; and (ii) in the case of rental units, families having incomes not greater than 50 percent of the area median income