rp-07-26.pdf

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Part III

Administrative, Procedural, and Miscellaneous

[26 CFR 601.201]: Rulings and determination letters
(Also: Part I, §§ 25, 103, 143)

Rev. Proc 2007-26

SECTION 1. PURPOSE
This revenue procedure provides issuers of qualified mortgage bonds, as defined
in section 143(a) of the Internal Revenue Code, and issuers of mortgage credit
certificates, as defined in section 25(c), with (1) the nationwide average purchase price
for residences located in the United States, and (2) average area purchase price safe
harbors for residences located in statistical areas in each state, the District of Columbia,
Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin Islands, and
Guam.
SECTION 2. BACKGROUND
.01 Section 103(a) provides that, except as provided in section 103(b), gross
income does not include interest on any state or local bond. Section 103(b)(1) provides

2
that section 103(a) shall not apply to any private activity bond that is not a "qualified bond"
within the meaning of section 141. Section 141(e) provides, in part, that the term "qualified
bond" means any private activity bond if such bond (1) is a qualified mortgage bond under
section 143, (2) meets the volume cap requirements under section 146, and (3) meets the
applicable requirements under section 147.
.02 Section 143(a)(1) provides that the term "qualified mortgage bond" means a bond
that is issued as part of a qualified mortgage issue. Section 143(a)(2)(A) provides that the
term "qualified mortgage issue" means an issue of one or more bonds by a state or political
subdivision thereof, but only if: (i) all proceeds of the issue (exclusive of issuance costs and a
reasonably required reserve) are to be used to finance owner-occupied residences; (ii) the
issue meets the requirements of subsections (c), (d), (e), (f), (g), (h), (i), and (m)(7) of section
143; (iii) the issue does not meet the private business tests of paragraphs (1) and (2) of
section 141(b); and (iv) with respect to amounts received more than 10 years after the date of
issuance, repayments of $250,000 or more of principal on mortgage financing provided by
the issue are used by the close of the first semiannual period beginning after the date the
prepayment (or complete repayment) is received to redeem bonds that are part of the issue.
Average Area Purchase Price
.03 Section 143(e)(1) provides that an issue of bonds meets the purchase price
requirements of section 143(e) if the acquisition cost of each residence financed by the issue
does not exceed 90 percent of the average area purchase price applicable to such residence.
Section 143(e)(5) provides that, in the case of a targeted area residence (as defined in
section 143(j)), section 143(e)(1) shall be applied by substituting 110 percent for 90 percent.

3
.04 Section 143(e)(2) provides that the term "average area purchase price" means,
with respect to any residence, the average purchase price of single-family residences (in the
statistical area in which the residence is located) that were purchased during the most recent
12-month period for which sufficient statistical information is available. Under sections
143(e)(3) and (4), respectively, separate determinations are to be made for new and existing
residences, and for two-, three-, and four-family residences.
.05 Section 143(e)(2) provides that the determination of the average area purchase
price for a statistical area shall be made as of the date on which the commitment to provide
the financing is made or, if earlier, the date of the purchase of the residence.
.06 Section 143(k)(2)(A) provides that the term "statistical area" means (i) a
metropolitan statistical area (MSA), and (ii) any county (or the portion thereof) that is not
within an MSA. Section 143(k)(2)(C) further provides that if sufficient recent statistical
information with respect to a county (or portion thereof) is unavailable, the Secretary may
substitute another area for which there is sufficient recent statistical information for such
county (or portion thereof). In the case of any portion of a State which is not within a county,
section 143(k)(2)(D) provides that the Secretary may designate as a county any area that is
the equivalent of a county. Section 6a.103A-1(b)(4)(i) of the Temporary Income Tax
Regulations (issued under section 103A of the Internal Revenue Code of 1954, the
predecessor of section 143) provides that the term “State” includes a possession of the
United States and the District of Columbia.
.07 Section 6a.103A-2(f)(5)(i) provides that an issuer may rely upon the average area
purchase price safe harbors published by the Department of the Treasury for the statistical

4
area in which a residence is located. Section 6a.103A-2(f)(5)(i) further provides that
an issuer may use an average area purchase price limitation different from the published safe
harbor if the issuer has more accurate and comprehensive data for the statistical area.
Qualified Mortgage Credit Certificate Program
.08 Section 25(c) permits a state or political subdivision to establish a qualified
mortgage credit certificate program. In general, a qualified mortgage credit certificate
program is a program under which the issuing authority elects not to issue an amount of
private activity bonds that it may otherwise issue during the calendar year under section 146,
and in their place, issues mortgage credit certificates to taxpayers in connection with the
acquisition of their principal residences. Section 25(a)(1) provides, in general, that the holder
of a mortgage credit certificate may claim a federal income tax credit equal to the product of
the credit rate specified in the certificate and the interest paid or accrued during the tax year
on the remaining principal of the indebtedness incurred to acquire the residence. Section
25(c)(2)(A)(iii)(III) generally provides that residences acquired in connection with the issuance
of mortgage credit certificates must meet the purchase price requirements of section 143(e).
Income Limitations for Qualified Mortgage Bonds and Mortgage Credit Certificates
.09 Section 143(f) imposes limitations on the income of mortgagors for whom financing
may be provided by qualified mortgage bonds. In addition, section 25(c)(2)(A)(iii)(IV)
provides that holders of mortgage credit certificates must meet the income requirement of
section 143(f). Generally, under sections 143(f)(1) and 25(c)(2)(A)(iii)(IV), the income
requirement is met only if all owner-financing under a qualified mortgage bond and all
mortgage credit certificates issued under a qualified mortgage credit certificate program are

5
provided to mortgagors whose family income is 115 percent or less of the applicable median
family income. Section 143(f)(5), however, generally provides for an upward adjustment to
the percentage limitation in high housing cost areas. High housing cost areas are defined in
section 143(f)(5)(C) as any statistical area for which the housing cost/income ratio is greater
than 1.2.
.10 Under section 143(f)(5)(D), the housing cost/income ratio with respect to any
statistical area is determined by dividing (a) the applicable housing price ratio for such area
by (b) the ratio that the area median gross income for such area bears to the median gross
income for the United States. The applicable housing price ratio is the new housing price
ratio (new housing average area purchase price divided by the new housing average
purchase price for the United States) or the existing housing price ratio (existing housing
average area purchase price divided by the existing housing average purchase price for the
United States), whichever results in the housing cost/income ratio being closer to 1.
Average Area and Nationwide Purchase Price Limitations
.11 Average area purchase price safe harbors for each state, the District of Columbia,
Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin Islands, and Guam
were last published in Rev. Proc. 2006-17, 2006-14 I.R.B. 709.
.12 The nationwide average purchase price limitation was last published in section
4.02 of Rev. Proc. 2006-17. Guidance with respect to the United States and area median
gross income figures that are to be used in computing the housing cost/income ratio
described in section 143(f)(5) was last published in Rev. Proc. 2006-20, 2006-17 I.R.B. 841.
.13 This revenue procedure uses FHA loan limits for a given statistical area to

6
calculate the average area purchase price safe harbor for that area. FHA sets limits on the
dollar value of loans it will insure based on median home prices and conforming loan limits
established by the Federal Home Loan Mortgage Corporation. In particular, FHA sets an
area's loan limit at 95 percent of the median home sales price for the area, subject to certain
floors and caps measured against conforming loan limits.
.14 To calculate the average area purchase price safe harbors in this revenue
procedure, the FHA loan limits are adjusted to take into account the differences between
average and median purchase prices. Because FHA loan limits do not differentiate between
new and existing residences, this revenue procedure contains a single average area
purchase price safe harbor for both new and existing residences in a statistical area. The
Treasury Department and the Internal Revenue Service have determined that FHA loan limits
provide a reasonable basis for determining average area purchase price safe harbors. If the
Treasury Department and the Internal Revenue Service become aware of other sources of
average purchase price data, including data that differentiate between new and existing
residences, consideration will be given as to whether such data provide a more accurate
method for calculating average area purchase price safe harbors.
.15 The average area purchase price safe harbors listed in section 4.01 of this
revenue procedure are based on FHA loan limits released January 3, 2007. FHA loan limits
are available for statistical areas in each state, the District of Columbia, Puerto Rico, the
Northern Mariana Islands, American Samoa, the Virgin Islands, and Guam. See section 3.03
of this revenue procedure with respect to FHA loan limits revised after January 3, 2007.
.16 OMB Bulletin No. 03-04, dated and effective June 6, 2003, revised the definitions

7
of the nation’s metropolitan areas and recognized 49 new metropolitan statistical areas. The
OMB bulletin no longer includes primary metropolitan statistical areas.
SECTION 3. APPLICATION

Average Area Purchase Price Safe Harbors
.01 Average area purchase price safe harbors for statistical areas in each state, the
District of Columbia, Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin
Islands, and Guam are set forth in section 4.01 of this revenue procedure. Average area
purchase price safe harbors are provided for single-family and two to four-family residences.
For each type of residence, section 4.01 of this revenue procedure contains a single safe
harbor that may be used for both new and existing residences. Issuers of qualified mortgage
bonds and issuers of mortgage credit certificates may rely on these safe harbors to satisfy
the requirements of sections 143(e) and (f). Section 4.01 of this revenue procedure provides
safe harbors for MSAs and for certain counties and county equivalents. If no purchase price
safe harbor is available for a statistical area, the safe harbor for "ALL OTHER AREAS" may
be used for that statistical area (except for Alaska, for which a separate safe harbor is
provided for statistical areas not listed).
.02 If a residence is in an MSA, the safe harbor applicable to it is the limitation of that
MSA. If an MSA falls in more than one state, the MSA is listed in section 4.01 of this revenue
procedure under each state.
.03 If the FHA revises the FHA loan limit for any statistical area after January 3, 2006,
an issuer of qualified mortgage bonds or mortgage credit certificates may use the revised
FHA loan limit for that statistical area to compute (as provided in the next sentence) a revised

8
average area purchase price safe harbor for the statistical area provided that the issuer
maintains records evidencing the revised FHA loan limit. The revised average area purchase
price safe harbor for that statistical area is computed by dividing the revised FHA loan limit by
.76.
.04 If, pursuant to section 6a.103A-2(f)(5)(i), an issuer uses more accurate and
comprehensive data to determine the average area purchase price for a statistical area, the
issuer must make separate average area purchase price determinations for new and existing
residences. Moreover, when computing the average area purchase price for a statistical area
that is an MSA, as defined in OMB Bulletin No. 03-04, the issuer must make the computation
for the entire applicable MSA. When computing the average area purchase price for a
statistical area that is not an MSA, the issuer must make the computation for the entire
statistical area and may not combine statistical areas. Thus, for example, the issuer may not
combine two or more counties.
.05 If an issuer receives a ruling permitting it to rely on an average area purchase price
limitation that is higher than the applicable safe harbor in this revenue procedure, the issuer
may rely on that higher limitation for the purpose of satisfying the requirements of section
143(e) and (f) for bonds sold, and mortgage credit certificates issued, not more than 30
months following the termination date of the 12-month period used by the issuer to compute
the limitation.
Nationwide Average Purchase Price
.06 Section 4.02 of this revenue procedure sets forth a single nationwide average
purchase price for purposes of computing the housing cost/income ratio under section

9
143(f)(5).
.07 Issuers must use the nationwide average purchase price set forth in section 4.02
of this revenue procedure when computing the housing cost/income ratio under section
143(f)(5) regardless of whether they are relying on the average area purchase price safe
harbors contained in this revenue procedure or using more accurate and comprehensive data
to determine average area purchase prices for new and existing residences for a statistical
area that are different from the published safe harbors in this revenue procedure.
.08 If, pursuant to section 6.02 of this revenue procedure, an issuer relies on the
average area purchase price safe harbors contained in Rev. Proc. 2006-17, the issuer must
use the nationwide average purchase price set forth in section 4.02 of Rev. Proc. 2006-17 in
computing the housing cost/income ratio under section 143(f)(5). Likewise, if, pursuant to
section 6.05 of this revenue procedure, an issuer relies on the nationwide average purchase
price published in Rev. Proc. 2006-17, the issuer may not rely on the average area purchase
price safe harbors published in this revenue procedure.
SECTION 4. AVERAGE AREA AND NATIONWIDE AVERAGE PURCHASE PRICES
.01 Average area purchase prices for single-family and two to four-family residences in
MSAs, and for certain counties and county equivalents are set forth below. The safe harbor
for “ALL OTHER AREAS” (found at the end of the table below) may be used for a statistical
area that is not listed below.

STATE MSA NAME COUNTY NAME SAFE HARBOR AVERAGE PRICE

1 Living
Unit
2 Living
Units
3 Living
Units
4 Living
Units
AK ANCHORAGE, AK (MSA) ANCHORAGE $335,592 $377,982 $459,276 $529,934
NON-METRO DENALI $316,137 $404,668 $489,126 $607,879
JUNEAU, AK (MICRO) JUNEAU $398,750 $449,118 $545,658 $629,605

10
ANCHORAGE, AK (MSA)
MATANUSKA-SUSIT
$335,592 $377,982 $459,276 $529,934
NON-METRO SITKA $431,250 $485,724 $590,132 $680,921
NON-METRO YAKUTAT CITY $316,137 $404,668 $489,126 $607,879
AZ FLAGSTAFF, AZ (MSA) COCONINO $437,500 $492,763 $598,684 $690,789
PAYSON, AZ (MICRO) GILA $293,750 $337,168 $407,558 $506,495
PHOENIX-MESA-SCOTTSDALE, AZ (MSA) MARICOPA $346,250 $389,987 $473,816 $546,711
LAKE HAVASU CITY-KINGMAN, AZ (MICRO) MOHAVE $321,842 $362,500 $440,461 $508,224
NON-METRO NAVAJO $265,000 $337,168 $407,558 $506,495
TUCSON, AZ (MSA) PIMA $315,592 $355,461 $431,908 $506,495
PHOENIX-MESA-SCOTTSDALE, AZ (MSA) PINAL $346,250 $389,987 $473,816 $546,711
PRESCOTT, AZ (MSA) YAVAPAI $375,000 $422,368 $513,158 $592,105
CA OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN ALAMEDA $477,355 $611,117 $738,699 $918,021
NON-METRO ALPINE $477,355 $611,117 $738,699 $918,021
NON-METRO AMADOR $443,750 $506,842 $615,789 $710,526
CHICO, CA (MSA) BUTTE $400,000 $450,526 $547,368 $631,579
NON-METRO CALAVERAS $477,355 $550,461 $668,816 $774,671
NON-METRO COLUSA $381,250 $429,408 $521,711 $601,974
OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN CONTRA COSTA $477,355 $611,117 $738,699 $918,021
CRESCENT CITY, CA (MICRO) DEL NORTE $311,250 $350,566 $425,921 $506,495
SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA EL DORADO $477,355 $587,092 $713,289 $823,026
FRESNO, CA (MSA) FRESNO $381,250 $429,408 $521,711 $601,974
NON-METRO GLENN $283,750 $337,168 $407,558 $506,495
EUREKA-ARCATA-FORTUNA, CA (MICRO) HUMBOLDT $393,750 $443,487 $538,816 $621,711
EL CENTRO, CA (MSA) IMPERIAL $274,934 $337,168 $407,558 $506,495
BISHOP, CA (MICRO) INYO $477,355 $542,039 $658,553 $759,868
BAKERSFIELD, CA (MSA) KERN $368,750 $415,329 $504,605 $582,237
HANFORD-CORCORAN, CA (MSA) KINGS $312,316 $351,766 $427,379 $506,495
CLEARLAKE, CA (MICRO) LAKE $401,250 $451,934 $549,079 $633,553
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN LOS ANGELES $477,355 $611,117 $738,699 $918,021
MADERA, CA (MSA) MADERA $425,000 $478,684 $581,579 $671,053
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA MARIN $477,355 $611,117 $738,699 $918,021
NON-METRO MARIPOSA $411,704 $464,605 $564,474 $651,316
UKIAH, CA (MICRO) MENDOCINO $477,355 $563,158 $684,211 $789,474
MERCED, CA (MSA) MERCED $471,557 $531,122 $645,288 $744,564
NON-METRO MONO $477,355 $611,117 $738,699 $918,021
SALINAS, CA (MSA) MONTEREY $477,355 $611,117 $738,699 $918,021
NAPA, CA (MSA) NAPA $477,355 $611,117 $738,699 $918,021
TRUCKEE-GRASS VALLEY, CA (MICRO) NEVADA $477,355 $611,117 $738,699 $918,021
SANTA ANA-ANAHEIM-IRVINE, CA METROPOLITAN ORANGE $477,355 $611,117 $738,699 $918,021
SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA PLACER $477,355 $587,092 $713,289 $823,026
NON-METRO PLUMAS $410,000 $461,789 $561,053 $647,368
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (MSA) RIVERSIDE $477,355 $561,711 $682,500 $787,500
SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA SACRAMENTO $477,355 $587,092 $713,289 $823,026
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (MSA) SAN BENITO $477,355 $611,117 $738,699 $918,021
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (MSA)
SAN BERNARDINO
$477,355 $561,711 $682,500 $787,500
SAN DIEGO-CARLSBAD-SAN MARCOS, CA (MSA) SAN DIEGO $477,355 $611,117 $738,699 $918,021
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA SAN FRANCISCO $477,355 $611,117 $738,699 $918,021
STOCKTON, CA (MSA) SAN JOAQUIN $477,355 $549,079 $667,105 $769,737
SAN LUIS OBISPO-PASO ROBLES, CA (MSA) SAN LUIS OBISPO $477,355 $611,117 $738,699 $918,021
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA SAN MATEO $477,355 $611,117 $738,699 $918,021
SANTA BARBARA-SANTA MARIA, CA (MSA) SANTA BARBARA $477,355 $611,117 $738,699 $918,021
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (MSA) SANTA CLARA $477,355 $611,117 $738,699 $918,021
SANTA CRUZ-WATSONVILLE, CA (MSA) SANTA CRUZ $477,355 $611,117 $738,699 $918,021
REDDING, CA (MSA) SHASTA $423,625 $477,136 $579,697 $668,882
NON-METRO SISKIYOU $293,750 $337,168 $407,558 $506,495
VALLEJO-FAIRFIELD, CA (MSA) SOLANO $477,355 $611,117 $738,699 $907,895
SANTA ROSA-PETALUMA, CA (MSA) SONOMA $477,355 $611,117 $738,699 $918,021
MODESTO, CA (MSA) STANISLAUS $477,355 $537,653 $653,222 $753,718
YUBA CITY, CA (MSA) SUTTER $424,680 $478,325 $581,142 $670,549
RED BLUFF, CA (MICRO) TEHAMA $293,750 $337,168 $407,558 $506,495
VISALIA-PORTERVILLE, CA (MSA) TULARE $325,000 $366,053 $444,737 $513,158
PHOENIX LAKE-CEDAR RIDGE, CA (MICRO) TUOLUMNE $437,500 $492,763 $598,684 $690,789
OXNARD-THOUSAND OAKS-VENTURA, CA (MSA) VENTURA $477,355 $611,117 $738,699 $918,021

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SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA YOLO $477,355 $587,092 $713,289 $823,026
YUBA CITY, CA (MSA) YUBA $424,680 $478,325 $581,142 $670,549
CO DENVER-AURORA, CO (MSA) ADAMS $405,750 $457,003 $555,237 $640,658
DENVER-AURORA, CO (MSA) ARAPAHOE $405,750 $457,003 $555,237 $640,658
NON-METRO ARCHULETA $263,487 $337,168 $407,558 $506,495
BOULDER, CO (MSA) BOULDER $458,500 $516,416 $627,421 $723,947
DENVER-AURORA, CO (MSA) BROOMFIELD $405,750 $457,003 $555,237 $640,658
DENVER-AURORA, CO (MSA) CLEAR CREEK $405,750 $457,003 $555,237 $640,658
DENVER-AURORA, CO (MSA) DENVER $405,750 $457,003 $555,237 $640,658
DENVER-AURORA, CO (MSA) DOUGLAS $405,750 $457,003 $555,237 $640,658
EDWARDS, CO (MICRO) EAGLE $477,355 $537,653 $653,222 $753,718
COLORADO SPRINGS, CO (MSA) EL PASO $325,000 $366,053 $444,737 $513,158
DENVER-AURORA, CO (MSA) ELBERT $405,750 $457,003 $555,237 $640,658
NON-METRO GARFIELD $393,209 $442,878 $538,075 $620,857
DENVER-AURORA, CO (MSA) GILPIN $405,750 $457,003 $555,237 $640,658
NON-METRO GRAND $293,750 $337,168 $407,558 $506,495
DENVER-AURORA, CO (MSA) JEFFERSON $405,750 $457,003 $555,237 $640,658
DURANGO, CO (MICRO) LA PLATA $303,750 $342,118 $415,658 $506,495
EDWARDS, CO (MICRO) LAKE $477,355 $537,653 $653,222 $753,718
FORT COLLINS-LOVELAND, CO (MSA) LARIMER $312,500 $351,974 $427,632 $506,495
DENVER-AURORA, CO (MSA) PARK $405,750 $457,003 $555,237 $640,658
NON-METRO PITKIN $381,999 $488,975 $591,028 $734,521
NON-METRO ROUTT $398,026 $448,303 $544,667 $628,462
NON-METRO SAN MIGUEL $477,355 $611,117 $738,699 $918,021
SILVERTHORNE, CO (MICRO) SUMMIT $431,250 $485,724 $590,132 $680,921
COLORADO SPRINGS, CO (MSA) TELLER $325,000 $366,053 $444,737 $513,158
GREELEY, CO (MSA) WELD $361,250 $406,882 $494,342 $570,395
CT BRIDGEPORT-STAMFORD-NORWALK, CT (MSA) FAIRFIELD $477,355 $611,117 $738,699 $918,021
HARTFORD-WEST HARTFORD-EAST HARTFORD, CT HARTFORD $439,125 $494,593 $600,908 $693,355
TORRINGTON, CT (MICRO) LITCHFIELD $375,000 $422,368 $513,158 $592,105
HARTFORD-WEST HARTFORD-EAST HARTFORD, CT MIDDLESEX $439,125 $494,593 $600,908 $693,355
NEW HAVEN-MILFORD, CT (MSA) NEW HAVEN $385,625 $435,039 $528,553 $609,868
NORWICH-NEW LONDON, CT (MSA) NEW LONDON $398,750 $449,118 $545,658 $629,605
HARTFORD-WEST HARTFORD-EAST HARTFORD, CT TOLLAND $439,125 $494,593 $600,908 $693,355
DC WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD DISTRICT OF COL $477,355 $611,117 $738,699 $888,158
DE DOVER, DE (MSA) KENT $350,395 $394,655 $479,487 $553,255
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION NEW CASTLE $385,112 $433,758 $526,996 $608,072
SEAFORD, DE (MICRO) SUSSEX $325,000 $366,053 $444,737 $513,158
FL GAINESVILLE, FL (MSA) ALACHUA $269,000 $337,168 $407,558 $506,495
JACKSONVILLE, FL (MSA) BAKER $387,500 $436,447 $530,263 $611,842
PANAMA CITY-LYNN HAVEN, FL (MSA) BAY $331,250 $373,092 $453,289 $523,026
PALM BAY-MELBOURNE-TITUSVILLE, FL (MSA) BREVARD $291,250 $337,168 $407,558 $506,495
FORT LAUDERDALE-POMPANO BEACH-DEERFIELD BROWARD $477,355 $544,336 $661,343 $763,088
PUNTA GORDA, FL (MSA) CHARLOTTE $295,012 $337,168 $407,558 $506,495
JACKSONVILLE, FL (MSA) CLAY $387,500 $436,447 $530,263 $611,842
NAPLES-MARCO ISLAND, FL (MSA) COLLIER $477,355 $563,017 $684,039 $789,276
JACKSONVILLE, FL (MSA) DUVAL $387,500 $436,447 $530,263 $611,842
PALM COAST, FL (MICRO) FLAGLER $287,500 $337,168 $407,558 $506,495
GAINESVILLE, FL (MSA) GILCHRIST $269,000 $337,168 $407,558 $506,495
TAMPA-ST. PETERSBURG-CLEARWATER, FL (MSA) HERNANDO $292,500 $337,168 $407,558 $506,495
TAMPA-ST. PETERSBURG-CLEARWATER, FL (MSA) HILLSBOROUGH $292,500 $337,168 $407,558 $506,495
SEBASTIAN-VERO BEACH, FL (MSA) INDIAN RIVER $281,250 $337,168 $407,558 $506,495
ORLANDO-KISSIMMEE, FL (MSA) LAKE $338,750 $381,539 $463,553 $534,868
CAPE CORAL-FORT MYERS, FL (MSA) LEE $356,250 $401,250 $487,500 $562,500
SARASOTA-BRADENTON-VENICE, FL (MSA) MANATEE $442,237 $498,097 $605,166 $698,268
PORT ST. LUCIE-FORT PIERCE, FL (MSA) MARTIN $364,000 $409,979 $498,105 $574,737
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN MIAMI-DADE $477,355 $544,336 $661,343 $763,088
KEY WEST-MARATHON, FL (MICRO) MONROE $477,355 $611,117 $738,699 $918,021
JACKSONVILLE, FL (MSA) NASSAU $387,500 $436,447 $530,263 $611,842
FORT WALTON BEACH-CRESTVIEW-DESTIN, FL (MSA) OKALOOSA $312,375 $351,833 $427,461 $506,495
ORLANDO-KISSIMMEE, FL (MSA) ORANGE $338,750 $381,539 $463,553 $534,868
ORLANDO-KISSIMMEE, FL (MSA) OSCEOLA $338,750 $381,539 $463,553 $534,868
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH PALM BEACH $477,355 $544,336 $661,343 $763,088
TAMPA-ST. PETERSBURG-CLEARWATER, FL (MSA) PASCO $292,500 $337,168 $407,558 $506,495

12
TAMPA-ST. PETERSBURG-CLEARWATER, FL (MSA) PINELLAS $292,500 $337,168 $407,558 $506,495
LAKELAND, FL (MSA) POLK $270,000 $337,168 $407,558 $506,495
SARASOTA-BRADENTON-VENICE, FL (MSA) SARASOTA $442,237 $498,097 $605,166 $698,268
ORLANDO-KISSIMMEE, FL (MSA) SEMINOLE $338,750 $381,539 $463,553 $534,868
JACKSONVILLE, FL (MSA) ST. JOHNS $387,500 $436,447 $530,263 $611,842
PORT ST. LUCIE-FORT PIERCE, FL (MSA) ST. LUCIE $364,000 $409,979 $498,105 $574,737
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (MSA) VOLUSIA $302,864 $341,121 $414,446 $506,495
NON-METRO WALTON $477,355 $538,520 $654,276 $791,700
GA ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) BARROW $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) BARTOW $332,750 $374,782 $455,342 $525,395
BRUNSWICK, GA (MSA) BRANTLEY $275,921 $337,168 $407,558 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) BUTTS $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) CARROLL $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) CHEROKEE $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) CLAYTON $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) COBB $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) COWETA $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) DAWSON $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) DEKALB $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) DOUGLAS $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) FAYETTE $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) FORSYTH $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) FULTON $332,750 $374,782 $455,342 $525,395
BRUNSWICK, GA (MSA) GLYNN $275,921 $337,168 $407,558 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) GWINNETT $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) HARALSON $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) HEARD $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) HENRY $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) JASPER $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) LAMAR $332,750 $374,782 $455,342 $525,395
BRUNSWICK, GA (MSA) MCINTOSH $275,921 $337,168 $407,558 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) MERIWETHER $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) NEWTON $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) PAULDING $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) PICKENS $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) PIKE $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) ROCKDALE $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) SPALDING $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) WALTON $332,750 $374,782 $455,342 $525,395
HI HILO, HI (MICRO) HAWAII $593,750 $668,750 $812,500 $937,500
HONOLULU, HI (MSA) HONOLULU $716,033 $865,929 $1,052,063 $1,213,918
KAPAA, HI (MICRO) KAUAI $716,033 $851,776 $1,034,868 $1,194,079
KAHULUI-WAILUKU, HI (MICRO) MAUI $716,033 $840,461 $1,021,184 $1,178,289
ID BOISE CITY-NAMPA, ID (MSA) ADA $296,250 $337,168 $407,558 $506,495
NON-METRO BLAINE $477,355 $584,276 $709,868 $819,079
BOISE CITY-NAMPA, ID (MSA) BOISE $296,250 $337,168 $407,558 $506,495
BOISE CITY-NAMPA, ID (MSA) CANYON $296,250 $337,168 $407,558 $506,495
BOISE CITY-NAMPA, ID (MSA) GEM $296,250 $337,168 $407,558 $506,495
COEUR D'ALENE, ID (MSA) KOOTENAI $286,250 $337,168 $407,558 $506,495
BOISE CITY-NAMPA, ID (MSA) OWYHEE $296,250 $337,168 $407,558 $506,495
JACKSON, WY-ID (MICRO) TETON $477,355 $611,117 $738,699 $918,021
NON-METRO VALLEY $416,842 $469,495 $570,461 $658,224
IL ST. LOUIS, MO-IL (MSA) BOND $281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) CALHOUN $281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) CLINTON $281,250 $337,168 $407,558 $506,495
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN COOK $362,105 $407,845 $495,512 $571,745
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DEKALB $362,105 $407,845 $495,512 $571,745
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DUPAGE $362,105 $407,845 $495,512 $571,745
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN GRUNDY $362,105 $407,845 $495,512 $571,745
ST. LOUIS, MO-IL (MSA) JERSEY $281,250 $337,168 $407,558 $506,495
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN KANE $362,105 $407,845 $495,512 $571,745
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN KENDALL $362,105 $407,845 $495,512 $571,745
LAKE COUNTY-KENOSHA COUNTY, IL-WI METROP LAKE $362,105 $407,845 $495,512 $571,745
ST. LOUIS, MO-IL (MSA) MACOUPIN $281,250 $337,168 $407,558 $506,495

13
ST. LOUIS, MO-IL (MSA) MADISON $281,250 $337,168 $407,558 $506,495
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN MCHENRY $362,105 $407,845 $495,512 $571,745
ST. LOUIS, MO-IL (MSA) MONROE $281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) ST. CLAIR $281,250 $337,168 $407,558 $506,495
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN WILL $362,105 $407,845 $495,512 $571,745
IN LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) CLARK $281,125 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) DEARBORN $332,500 $374,500 $455,000 $525,000
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) FLOYD $281,125 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) FRANKLIN $332,500 $374,500 $455,000 $525,000
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) HARRISON $281,125 $337,168 $407,558 $506,495
GARY, IN METROPOLITAN DIVISION JASPER $362,105 $407,845 $495,512 $571,745
GARY, IN METROPOLITAN DIVISION LAKE $362,105 $407,845 $495,512 $571,745
GARY, IN METROPOLITAN DIVISION NEWTON $362,105 $407,845 $495,512 $571,745
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) OHIO $332,500 $374,500 $455,000 $525,000
GARY, IN METROPOLITAN DIVISION PORTER $362,105 $407,845 $495,512 $571,745
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) WASHINGTON $281,125 $337,168 $407,558 $506,495
KS KANSAS CITY, MO-KS (MSA) FRANKLIN $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) JOHNSON $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) LEAVENWORTH $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) LINN $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) MIAMI $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) WYANDOTTE $268,750 $337,168 $407,558 $506,495
KY CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) BOONE $332,500 $374,500 $455,000 $525,000
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) BRACKEN $332,500 $374,500 $455,000 $525,000
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) BULLITT $281,125 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) CAMPBELL $332,500 $374,500 $455,000 $525,000
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) GALLATIN $332,500 $374,500 $455,000 $525,000
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) GRANT $332,500 $374,500 $455,000 $525,000
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) HENRY $281,125 $337,168 $407,558 $506,495
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) JEFFERSON $281,125 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) KENTON $332,500 $374,500 $455,000 $525,000
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) MEADE $281,125 $337,168 $407,558 $506,495
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) NELSON $281,125 $337,168 $407,558 $506,495
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) OLDHAM $281,125 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) PENDLETON $332,500 $374,500 $455,000 $525,000
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) SHELBY $281,125 $337,168 $407,558 $506,495
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) SPENCER $281,125 $337,168 $407,558 $506,495
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) TRIMBLE $281,125 $337,168 $407,558 $506,495
MA BARNSTABLE TOWN, MA (MSA) BARNSTABLE $477,355 $577,237 $701,316 $809,211
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA BRISTOL $416,250 $472,891 $571,567 $710,309
NON-METRO DUKES $477,355 $611,117 $738,699 $918,021
ESSEX COUNTY, MA METROPOLITAN DIVISION ESSEX $477,355 $606,728 $737,146 $850,554
SPRINGFIELD, MA (MSA) FRANKLIN $273,500 $337,168 $407,558 $506,495
SPRINGFIELD, MA (MSA) HAMPDEN $273,500 $337,168 $407,558 $506,495
SPRINGFIELD, MA (MSA) HAMPSHIRE $273,500 $337,168 $407,558 $506,495
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN MIDDLESEX $477,355 $606,728 $737,146 $850,554
NON-METRO NANTUCKET $477,355 $611,117 $738,699 $918,021
BOSTON-QUINCY, MA METROPOLITAN DIVISION NORFOLK $477,355 $606,728 $737,146 $850,554
BOSTON-QUINCY, MA METROPOLITAN DIVISION PLYMOUTH $477,355 $606,728 $737,146 $850,554
BOSTON-QUINCY, MA METROPOLITAN DIVISION SUFFOLK $477,355 $606,728 $737,146 $850,554
WORCESTER, MA (MSA) WORCESTER $385,000 $488,975 $591,028 $734,521
MD BALTIMORE-TOWSON, MD (MSA) ANNE ARUNDEL $477,355 $537,653 $653,222 $753,718
BALTIMORE-TOWSON, MD (MSA) BALTIMORE $477,355 $537,653 $653,222 $753,718
BALTIMORE-TOWSON, MD (MSA) BALTIMORE CITY $477,355 $537,653 $653,222 $753,718
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN CALVERT $477,355 $611,117 $738,699 $888,158
BALTIMORE-TOWSON, MD (MSA) CARROLL $477,355 $537,653 $653,222 $753,718
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION CECIL $385,112 $433,758 $526,996 $608,072
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN CHARLES $477,355 $611,117 $738,699 $888,158
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN FREDERICK $477,355 $611,117 $738,699 $888,158
NON-METRO GARRETT $437,500 $492,763 $598,684 $690,789
BALTIMORE-TOWSON, MD (MSA) HARFORD $477,355 $537,653 $653,222 $753,718
BALTIMORE-TOWSON, MD (MSA) HOWARD $477,355 $537,653 $653,222 $753,718
NON-METRO KENT $327,089 $368,405 $447,596 $516,457
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN MONTGOMERY $477,355 $611,117 $738,699 $888,158

14
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN
PRINCE GEORGE'S
$477,355 $611,117 $738,699 $888,158
BALTIMORE-TOWSON, MD (MSA) QUEEN ANNE'S $477,355 $537,653 $653,222 $753,718
SALISBURY, MD (MSA) SOMERSET $296,250 $337,168 $407,558 $506,495
LEXINGTON PARK, MD (MICRO) ST. MARY'S $371,053 $417,922 $507,755 $585,872
EASTON, MD (MICRO) TALBOT $371,250 $418,145 $508,026 $599,342
HAGERSTOWN-MARTINSBURG, MD-WV (MSA) WASHINGTON $362,500 $408,289 $496,053 $572,368
SALISBURY, MD (MSA) WICOMICO $296,250 $337,168 $407,558 $506,495
OCEAN PINES, MD (MICRO) WORCESTER $437,499 $492,761 $598,682 $690,787
ME PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME (M CUMBERLAND $336,875 $379,428 $460,987 $531,908
NON-METRO HANCOCK $272,500 $337,168 $407,558 $506,495
NON-METRO LINCOLN $317,625 $357,746 $434,645 $506,495
PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME (MSA) SAGADAHOC $336,875 $379,428 $460,987 $531,908
PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME (MSA) YORK $336,875 $379,428 $460,987 $531,908
MI NILES-BENTON HARBOR, MI (MSA) BERRIEN $298,750 $337,168 $408,816 $506,495
KALAMAZOO-PORTAGE, MI (MSA) KALAMAZOO $285,625 $337,168 $407,558 $506,495
WARREN-TROY-FARMINGTON HILLS, MI METROPOITAN LAPEER $297,500 $337,168 $407,558 $506,495
ADRIAN, MI (MICRO) LENAWEE $297,500 $337,168 $407,558 $506,495
WARREN-TROY-FARMINGTON HILLS, MI METROPOITAN LIVINGSTON $297,500 $337,168 $407,558 $506,495
WARREN-TROY-FARMINGTON HILLS, MI METROPOITAN MACOMB $297,500 $337,168 $407,558 $506,495
MONROE, MI (MSA) MONROE $297,500 $337,168 $407,558 $506,495
WARREN-TROY-FARMINGTON HILLS, MI METROPOITAN OAKLAND $297,500 $337,168 $407,558 $506,495
WARREN-TROY-FARMINGTON HILLS, MI METROPOITAN ST. CLAIR $297,500 $337,168 $407,558 $506,495
KALAMAZOO-PORTAGE, MI (MSA) VAN BUREN $285,625 $337,168 $407,558 $506,495
ANN ARBOR, MI (MSA) WASHTENAW $344,875 $388,438 $471,934 $544,539
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN WAYNE $297,500 $337,168 $407,558 $506,495
MN MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI ANOKA $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI CARVER $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI CHISAGO $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI DAKOTA $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI HENNEPIN $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI ISANTI $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI RAMSEY $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI SCOTT $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI SHERBURNE $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI WASHINGTON $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI WRIGHT $331,250 $373,092 $453,289 $523,026
MO KANSAS CITY, MO-KS (MSA) BATES $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) CALDWELL $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) CASS $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) CLAY $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) CLINTON $268,750 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) CRAWFORD $281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) FRANKLIN $281,250 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) JACKSON $268,750 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) JEFFERSON $281,250 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) LAFAYETTE $268,750 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) LINCOLN $281,250 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) PLATTE $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) RAY $268,750 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) ST. CHARLES $281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) ST. LOUIS $281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) ST. LOUIS CITY $281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) WARREN $281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) WASHINGTON $281,250 $337,168 $407,558 $506,495
MT MISSOULA, MT (MSA) MISSOULA $290,625 $337,168 $407,558 $506,495
NC WILMINGTON, NC (MSA) BRUNSWICK $303,125 $341,414 $414,803 $506,495
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (MSA) CURRITUCK $412,500 $464,605 $564,474 $651,316
RALEIGH-CARY, NC (MSA) FRANKLIN $266,875 $337,168 $407,558 $506,495
RALEIGH-CARY, NC (MSA) JOHNSTON $266,875 $337,168 $407,558 $506,495
WILMINGTON, NC (MSA) NEW HANOVER $303,125 $341,414 $414,803 $506,495
JACKSONVILLE, NC (MSA) ONSLOW $306,250 $344,934 $419,079 $506,495
WILMINGTON, NC (MSA) PENDER $303,125 $341,414 $414,803 $506,495
RALEIGH-CARY, NC (MSA) WAKE $266,875 $337,168 $407,558 $506,495

15
NH MANCHESTER-NASHUA, NH (MSA) HILLSBOROUGH $401,875 $488,975 $591,028 $734,521
CONCORD, NH (MICRO) MERRIMACK $277,500 $337,168 $407,558 $506,495

ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH
METROPOLITAN ROCKINGHAM $477,355 $606,728 $737,146 $850,554

ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH
METROPOLITAN STRAFFORD $477,355 $606,728 $737,146 $850,554
NJ ATLANTIC CITY, NJ (MSA) ATLANTIC $425,000 $478,684 $581,579 $671,053
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN BERGEN $477,355 $611,117 $738,699 $918,021
CAMDEN, NJ METROPOLITAN DIVISION BURLINGTON $385,112 $433,758 $526,996 $608,072
CAMDEN, NJ METROPOLITAN DIVISION CAMDEN $385,112 $433,758 $526,996 $608,072
OCEAN CITY, NJ (MSA) CAPE MAY $477,355 $558,934 $679,079 $783,553
VINELAND-MILLVILLE-BRIDGETON, NJ (MSA) CUMBERLAND $405,000 $456,158 $554,211 $639,474
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION ESSEX $477,355 $611,117 $738,699 $918,021
CAMDEN, NJ METROPOLITAN DIVISION GLOUCESTER $385,112 $433,758 $526,996 $608,072
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN HUDSON $477,355 $611,117 $738,699 $918,021
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION HUNTERDON $477,355 $611,117 $738,699 $918,021
TRENTON-EWING, NJ (MSA) MERCER $439,550 $495,071 $601,489 $694,026
EDISON, NJ METROPOLITAN DIVISION MIDDLESEX $477,355 $611,117 $738,699 $918,021
EDISON, NJ METROPOLITAN DIVISION MONMOUTH $477,355 $611,117 $738,699 $918,021
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION MORRIS $477,355 $611,117 $738,699 $918,021
EDISON, NJ METROPOLITAN DIVISION OCEAN $477,355 $611,117 $738,699 $918,021
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN PASSAIC $477,355 $611,117 $738,699 $918,021
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION SALEM $385,112 $433,758 $526,996 $608,072
EDISON, NJ METROPOLITAN DIVISION SOMERSET $477,355 $611,117 $738,699 $918,021
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION SUSSEX $477,355 $611,117 $738,699 $918,021
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION UNION $477,355 $611,117 $738,699 $918,021
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (MSA) WARREN $402,192 $459,255 $557,974 $643,816
NM LOS ALAMOS, NM (MICRO) LOS ALAMOS $318,750 $359,013 $436,184 $506,495
FARMINGTON, NM (MSA) SAN JUAN $281,250 $337,168 $407,558 $506,495
SANTA FE, NM (MSA) SANTA FE $381,999 $449,471 $546,086 $630,099
NV CARSON CITY, NV (MSA) CARSON CITY $398,750 $449,118 $545,658 $629,605
LAS VEGAS-PARADISE, NV (MSA) CLARK $400,000 $450,526 $547,368 $631,579
GARDNERVILLE RANCHOS, NV (MICRO) DOUGLAS $477,355 $582,829 $708,158 $817,105
ELKO, NV (MICRO) ELKO $325,000 $366,053 $444,737 $513,158
ELKO, NV (MICRO) EUREKA $325,000 $366,053 $444,737 $513,158
FERNLEY, NV (MICRO) LYON $331,250 $373,092 $453,289 $523,026
PAHRUMP, NV (MICRO) NYE $325,000 $366,053 $444,737 $513,158
RENO-SPARKS, NV (MSA) STOREY $477,355 $537,653 $653,222 $753,718
RENO-SPARKS, NV (MSA) WASHOE $477,355 $537,653 $653,222 $753,718
NY ALBANY-SCHENECTADY-TROY, NY (MSA) ALBANY $300,000 $337,895 $410,526 $506,495
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METRO BRONX $477,355 $611,117 $738,699 $918,021
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (MSA) DUTCHESS $443,750 $499,803 $607,237 $700,658
BUFFALO-NIAGARA FALLS, NY (MSA) ERIE $275,075 $337,168 $407,558 $506,495
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN KINGS $477,355 $611,117 $738,699 $918,021
ROCHESTER, NY (MSA) LIVINGSTON $268,750 $337,168 $407,558 $506,495
SYRACUSE, NY (MSA) MADISON $267,500 $337,168 $407,558 $506,495
ROCHESTER, NY (MSA) MONROE $268,750 $337,168 $407,558 $506,495
NASSAU-SUFFOLK, NY METROPOLITAN DIVISION NASSAU $477,355 $611,117 $738,699 $918,021
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN NEW YORK $477,355 $611,117 $738,699 $918,021
BUFFALO-NIAGARA FALLS, NY (MSA) NIAGARA $275,075 $337,168 $407,558 $506,495
SYRACUSE, NY (MSA) ONONDAGA $267,500 $337,168 $407,558 $506,495
ROCHESTER, NY (MSA) ONTARIO $268,750 $337,168 $407,558 $506,495
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (MSA) ORANGE $443,750 $499,803 $607,237 $700,658
ROCHESTER, NY (MSA) ORLEANS $268,750 $337,168 $407,558 $506,495
SYRACUSE, NY (MSA) OSWEGO $267,500 $337,168 $407,558 $506,495
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METRO PUTNAM $477,355 $611,117 $738,699 $918,021
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METRO QUEENS $477,355 $611,117 $738,699 $918,021
ALBANY-SCHENECTADY-TROY, NY (MSA) RENSSELAER $300,000 $337,895 $410,526 $506,495
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METRO RICHMOND $477,355 $611,117 $738,699 $918,021
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METRO ROCKLAND $477,355 $611,117 $738,699 $918,021
ALBANY-SCHENECTADY-TROY, NY (MSA) SARATOGA $300,000 $337,895 $410,526 $506,495
ALBANY-SCHENECTADY-TROY, NY (MSA) SCHENECTADY $300,000 $337,895 $410,526 $506,495
ALBANY-SCHENECTADY-TROY, NY (MSA) SCHOHARIE $300,000 $337,895 $410,526 $506,495
NASSAU-SUFFOLK, NY METROPOLITAN DIVISION SUFFOLK $477,355 $611,117 $738,699 $918,021
KINGSTON, NY (MSA) ULSTER $406,250 $457,566 $555,921 $641,447

16
ROCHESTER, NY (MSA) WAYNE $268,750 $337,168 $407,558 $506,495
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METRO WESTCHESTER $477,355 $611,117 $738,699 $918,021
OH ASHTABULA, OH (MICRO) ASHTABULA $290,797 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) BROWN $332,500 $374,500 $455,000 $525,000
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) BUTLER $332,500 $374,500 $455,000 $525,000
CANTON-MASSILLON, OH (MSA) CARROLL $277,500 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) CLERMONT $332,500 $374,500 $455,000 $525,000
CLEVELAND-ELYRIA-MENTOR, OH (MSA) CUYAHOGA $297,550 $337,168 $407,558 $506,495
COLUMBUS, OH (MSA) DELAWARE $307,500 $346,342 $420,789 $506,495
COLUMBUS, OH (MSA) FAIRFIELD $307,500 $346,342 $420,789 $506,495
COLUMBUS, OH (MSA) FRANKLIN $307,500 $346,342 $420,789 $506,495
CLEVELAND-ELYRIA-MENTOR, OH (MSA) GEAUGA $297,550 $337,168 $407,558 $506,495
DAYTON, OH (MSA) GREENE $271,250 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) HAMILTON $332,500 $374,500 $455,000 $525,000
CLEVELAND-ELYRIA-MENTOR, OH (MSA) LAKE $297,550 $337,168 $407,558 $506,495
COLUMBUS, OH (MSA) LICKING $307,500 $346,342 $420,789 $506,495
CLEVELAND-ELYRIA-MENTOR, OH (MSA) LORAIN $297,550 $337,168 $407,558 $506,495
COLUMBUS, OH (MSA) MADISON $307,500 $346,342 $420,789 $506,495
CLEVELAND-ELYRIA-MENTOR, OH (MSA) MEDINA $297,550 $337,168 $407,558 $506,495
DAYTON, OH (MSA) MIAMI $271,250 $337,168 $407,558 $506,495
DAYTON, OH (MSA) MONTGOMERY $271,250 $337,168 $407,558 $506,495
COLUMBUS, OH (MSA) MORROW $307,500 $346,342 $420,789 $506,495
COLUMBUS, OH (MSA) PICKAWAY $307,500 $346,342 $420,789 $506,495
AKRON, OH (MSA) PORTAGE $330,000 $371,684 $451,579 $521,053
DAYTON, OH (MSA) PREBLE $271,250 $337,168 $407,558 $506,495
CANTON-MASSILLON, OH (MSA) STARK $277,500 $337,168 $407,558 $506,495
AKRON, OH (MSA) SUMMIT $330,000 $371,684 $451,579 $521,053
COLUMBUS, OH (MSA) UNION $307,500 $346,342 $420,789 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) WARREN $332,500 $374,500 $455,000 $525,000
OR CORVALLIS, OR (MSA) BENTON $307,500 $346,342 $420,789 $506,495
PORTLAND-VANCOUVER-BEAVERTON, OR-WA (MSA) CLACKAMAS $374,474 $421,776 $512,437 $591,316
ASTORIA, OR (MICRO) CLATSOP $287,500 $337,168 $407,558 $506,495
PORTLAND-VANCOUVER-BEAVERTON, OR-WA (MSA) COLUMBIA $374,474 $421,776 $512,437 $591,316
BEND, OR (MSA) DESCHUTES $427,250 $481,218 $584,658 $674,605
MEDFORD, OR (MSA) JACKSON $422,500 $475,868 $578,158 $667,105
GRANTS PASS, OR (MICRO) JOSEPHINE $324,868 $365,904 $444,557 $512,961
EUGENE-SPRINGFIELD, OR (MSA) LANE $331,250 $373,092 $453,289 $523,026
NON-METRO LINCOLN $277,500 $337,168 $407,558 $506,495
SALEM, OR (MSA) MARION $285,000 $337,168 $407,558 $506,495
PORTLAND-VANCOUVER-BEAVERTON, OR-WA (MSA) MULTNOMAH $374,474 $421,776 $512,437 $591,316
SALEM, OR (MSA) POLK $285,000 $337,168 $407,558 $506,495
NON-METRO TILLAMOOK $297,500 $337,168 $407,558 $506,495
PORTLAND-VANCOUVER-BEAVERTON, OR-WA (MSA WASHINGTON $374,474 $421,776 $512,437 $591,316
PORTLAND-VANCOUVER-BEAVERTON, OR-WA (MSA) YAMHILL $374,474 $421,776 $512,437 $591,316
PA PITTSBURGH, PA (MSA) ALLEGHENY $327,500 $368,868 $448,158 $517,105
PITTSBURGH, PA (MSA) ARMSTRONG $327,500 $368,868 $448,158 $517,105
PITTSBURGH, PA (MSA) BEAVER $327,500 $368,868 $448,158 $517,105
READING, PA (MSA) BERKS $300,000 $337,895 $410,526 $506,495
PHILADELPHIA, PA METROPOLITAN DIVISION BUCKS $385,112 $433,758 $526,996 $608,072
PITTSBURGH, PA (MSA) BUTLER $327,500 $368,868 $448,158 $517,105
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (MSA) CARBON $402,192 $459,255 $557,974 $643,816
STATE COLLEGE, PA (MSA) CENTRE $279,375 $337,168 $407,558 $506,495
PHILADELPHIA, PA METROPOLITAN DIVISION CHESTER $385,112 $433,758 $526,996 $608,072
PHILADELPHIA, PA METROPOLITAN DIVISION DELAWARE $385,112 $433,758 $526,996 $608,072
PITTSBURGH, PA (MSA) FAYETTE $327,500 $368,868 $448,158 $517,105
LANCASTER, PA (MSA) LANCASTER $383,250 $431,661 $524,447 $605,132
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (MSA) LEHIGH $402,192 $459,255 $557,974 $643,816
PHILADELPHIA, PA METROPOLITAN DIVISION MONTGOMERY $385,112 $433,758 $526,996 $608,072
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (MSA) NORTHAMPTON $402,192 $459,255 $557,974 $643,816
PHILADELPHIA, PA METROPOLITAN DIVISION PHILADELPHIA $385,112 $433,758 $526,996 $608,072
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION PIKE $477,355 $611,117 $738,699 $918,021
PITTSBURGH, PA (MSA) WASHINGTON $327,500 $368,868 $448,158 $517,105
PITTSBURGH, PA (MSA)
WESTMORELAND
$327,500 $368,868 $448,158 $517,105

17
YORK-HANOVER, PA (MSA) YORK $424,587 $478,218 $581,014 $670,401
PR SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) AGUAS BUENAS $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) AIBONITO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) ARECIBO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) BARCELONETA $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) BARRANQUITAS $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) BAYAMON $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) CAGUAS $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) CAMUY $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) CANOVANAS $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) CAROLINA $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) CATANO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) CAYEY $325,000 $366,053 $444,737 $513,158
FAJARDO, PR (MSA) CEIBA $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) CIALES $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) CIDRA $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) COMERIO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) COROZAL $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) DORADO $325,000 $366,053 $444,737 $513,158
FAJARDO, PR (MSA) FAJARDO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) FLORIDA $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) GUAYNABO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) GURABO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) HATILLO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) HUMACAO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) JUNCOS $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) LAS PIEDRAS $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) LOIZA $325,000 $366,053 $444,737 $513,158
FAJARDO, PR (MSA) LUQUILLO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) MANATI $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) MAUNABO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) MOROVIS $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) NAGUABO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) NARANJITO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) OROCOVIS $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) QUEBRADILLAS $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) RIO GRANDE $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) SAN JUAN $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) SAN LORENZO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) TOA ALTA $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) TOA BAJA $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) TRUJILLO ALTO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) VEGA ALTA $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) VEGA BAJA $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) YABUCOA $325,000 $366,053 $444,737 $513,158
RI PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA BRISTOL $416,250 $472,891 $571,567 $710,309
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA KENT $416,250 $472,891 $571,567 $710,309
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA NEWPORT $416,250 $472,891 $571,567 $710,309
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA PROVIDENCE $416,250 $472,891 $571,567 $710,309
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA WASHINGTON $416,250 $472,891 $571,567 $710,309
SC HILTON HEAD ISLAND-BEAUFORT, SC (MICRO) BEAUFORT $373,750 $420,961 $511,447 $590,132
CHARLESTON-NORTH CHARLESTON, SC (MSA) BERKELEY $334,375 $376,612 $457,566 $527,961
CHARLESTON-NORTH CHARLESTON, SC (MSA) CHARLESTON $334,375 $376,612 $457,566 $527,961
CHARLESTON-NORTH CHARLESTON, SC (MSA) DORCHESTER $334,375 $376,612 $457,566 $527,961
HILTON HEAD ISLAND-BEAUFORT, SC (MICRO) JASPER $373,750 $420,961 $511,447 $590,132
TN NASHVILLE-DAVIDSON--MURFREESBORO, TN (MSA) CANNON $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN (MSA) CHEATHAM $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN (MSA) DAVIDSON $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN (MSA) DICKSON $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN (MSA) HICKMAN $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN (MSA) MACON $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN (MSA) ROBERTSON $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN (MSA) RUTHERFORD $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN (MSA) SMITH $297,500 $337,168 $407,558 $506,495

18
NASHVILLE-DAVIDSON--MURFREESBORO, TN (MSA) SUMNER $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN (MSA) TROUSDALE $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN (MSA) WILLIAMSON $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN (MSA) WILSON $297,500 $337,168 $407,558 $506,495
UT PROVO-OREM, UT (MSA) JUAB $273,750 $337,168 $407,558 $506,495
NON-METRO KANE $268,750 $337,168 $407,558 $506,495
SALT LAKE CITY, UT (MSA) SALT LAKE $306,250 $344,934 $419,079 $506,495
SALT LAKE CITY, UT (MSA) SUMMIT $306,250 $344,934 $419,079 $506,495
SALT LAKE CITY, UT (MSA) TOOELE $306,250 $344,934 $419,079 $506,495
PROVO-OREM, UT (MSA) UTAH $273,750 $337,168 $407,558 $506,495
ST. GEORGE, UT (MSA) WASHINGTON $366,875 $413,217 $502,039 $579,276
VA CHARLOTTESVILLE, VA (MSA) ALBEMARLE $399,375 $449,822 $546,513 $630,592
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN ALEXANDRIA $477,355 $611,117 $738,699 $888,158
RICHMOND, VA (MSA) AMELIA $344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN ARLINGTON $477,355 $611,117 $738,699 $888,158
RICHMOND, VA (MSA) CAROLINE $344,375 $387,875 $471,250 $543,750
RICHMOND, VA (MSA) CHARLES CITY $344,375 $387,875 $471,250 $543,750
CHARLOTTESVILLE, VA (MSA)
CHARLOTTESVILLE
$399,375 $449,822 $546,513 $630,592
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPLITAN CHESAPEAKE $412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA) CHESTERFIELD $344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN CLARKE $477,355 $611,117 $738,699 $888,158
RICHMOND, VA (MSA) COLONIAL HEIGHT $344,375 $387,875 $471,250 $543,750
CULPEPER, VA (MICRO) CULPEPER $381,999 $448,442 $544,837 $628,658
RICHMOND, VA (MSA) CUMBERLAND $344,375 $387,875 $471,250 $543,750
RICHMOND, VA (MSA) DINWIDDIE $344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN FAIRFAX $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN FAIRFAX IND $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN FALLS CHURCH $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN FAUQUIER $477,355 $611,117 $738,699 $888,158
CHARLOTTESVILLE, VA (MSA) FLUVANNA $399,375 $449,822 $546,513 $630,592
WINCHESTER, VA-WV (MSA) FREDERICK $475,000 $535,000 $650,000 $750,000
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN
FREDERICKSBURG
$477,355 $611,117 $738,699 $888,158
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPLITAN GLOUCESTER $412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA) GOOCHLAND $344,375 $387,875 $471,250 $543,750
CHARLOTTESVILLE, VA (MSA) GREENE $399,375 $449,822 $546,513 $630,592
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPLITAN HAMPTON $412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA) HANOVER $344,375 $387,875 $471,250 $543,750
RICHMOND, VA (MSA) HENRICO $344,375 $387,875 $471,250 $543,750
RICHMOND, VA (MSA) HOPEWELL $344,375 $387,875 $471,250 $543,750
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPLITAN ISLE OF WIGHT $412,500 $464,605 $564,474 $651,316
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPLITAN JAMES CITY $412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA) KING AND QUEEN $344,375 $387,875 $471,250 $543,750
NON-METRO KING GEORGE $381,999 $448,442 $544,837 $628,658
RICHMOND, VA (MSA) KING WILLIAM $344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN LOUDOUN $477,355 $611,117 $738,699 $888,158
RICHMOND, VA (MSA) LOUISA $344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN MANASSAS $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN MANASSAS PARK $477,355 $611,117 $738,699 $888,158
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPLITAN MATHEWS $412,500 $464,605 $564,474 $651,316
CHARLOTTESVILLE, VA (MSA) NELSON $399,375 $449,822 $546,513 $630,592
RICHMOND, VA (MSA) NEW KENT $344,375 $387,875 $471,250 $543,750
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPLITAN
NEWPORT NEWS
$412,500 $464,605 $564,474 $651,316
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPLITAN NORFOLK $412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA) PETERSBURG $344,375 $387,875 $471,250 $543,750
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPLITAN POQUOSON $412,500 $464,605 $564,474 $651,316
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPLITAN PORTSMOUTH $412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA) POWHATAN $344,375 $387,875 $471,250 $543,750
RICHMOND, VA (MSA) PRINCE GEORGE $344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN PRINCE WILLIAM $477,355 $611,117 $738,699 $888,158
RICHMOND, VA (MSA) RICHMOND IND $344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN SPOTSYLVANIA $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN STAFFORD $477,355 $611,117 $738,699 $888,158

19
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPLITAN SUFFOLK $412,500 $464,605 $564,474 $651,316
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPLITAN SURRY $412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA) SUSSEX $344,375 $387,875 $471,250 $543,750
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPLITAN VIRGINIA BEACH $412,500 $464,605 $564,474 $651,316
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN WARREN $477,355 $611,117 $738,699 $888,158
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPLITAN WILLIAMSBURG $412,500 $464,605 $564,474 $651,316
WINCHESTER, VA-WV (MSA) WINCHESTER $475,000 $535,000 $650,000 $750,000
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPLITAN YORK $412,500 $464,605 $564,474 $651,316
VI NON-METRO ST. CROIX $287,500 $337,168 $407,558 $506,495
NON-METRO ST. THOMAS $318,750 $359,013 $436,184 $506,495
VT BURLINGTON-SOUTH BURLINGTON, VT (MSA) CHITTENDEN $318,750 $359,013 $436,184 $506,495
BURLINGTON-SOUTH BURLINGTON, VT (MSA) FRANKLIN $318,750 $359,013 $436,184 $506,495
BURLINGTON-SOUTH BURLINGTON, VT (MSA) GRAND ISLE $318,750 $359,013 $436,184 $506,495
WA WENATCHEE, WA (MSA) CHELAN $281,250 $337,168 $407,558 $506,495
PORT ANGELES, WA (MICRO) CLALLAM $296,250 $337,168 $407,558 $506,495
PORTLAND-VANCOUVER-BEAVERTON, OR-WA (MSA) CLARK $374,474 $421,776 $512,437 $591,316
WENATCHEE, WA (MSA) DOUGLAS $281,250 $337,168 $407,558 $506,495
OAK HARBOR, WA (MICRO) ISLAND $366,842 $413,179 $502,039 $579,276
NON-METRO JEFFERSON $420,000 $473,053 $574,737 $663,158
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN KING $477,355 $542,039 $658,553 $759,868
BREMERTON-SILVERDALE, WA (MSA) KITSAP $475,000 $535,000 $650,000 $750,000
TACOMA, WA METROPOLITAN DIVISION PIERCE $477,355 $542,039 $658,553 $759,868
NON-METRO SAN JUAN $477,355 $598,355 $726,974 $838,816
MOUNT VERNON-ANACORTES, WA (MSA) SKAGIT $373,662 $420,862 $511,328 $589,993
PORTLAND-VANCOUVER-BEAVERTON, OR-WA (MSA) SKAMANIA $374,474 $421,776 $512,437 $591,316
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN SNOHOMISH $477,355 $542,039 $658,553 $759,868
OLYMPIA, WA (MSA) THURSTON $344,505 $388,022 $471,429 $543,957
BELLINGHAM, WA (MSA) WHATCOM $375,000 $422,368 $513,158 $592,105
WI MADISON, WI (MSA) COLUMBIA $284,625 $337,168 $407,558 $506,495
MADISON, WI (MSA) DANE $284,625 $337,168 $407,558 $506,495
MADISON, WI (MSA) IOWA $284,625 $337,168 $407,558 $506,495
LAKE COUNTY-KENOSHA COUNTY, IL-WI METROPOLITAN KENOSHA $362,105 $407,845 $495,512 $571,745
MILWAUKEE-WAUKESHA-WEST ALLIS, WI (MSA) MILWAUKEE $287,375 $337,168 $407,558 $506,495
MILWAUKEE-WAUKESHA-WEST ALLIS, WI (MSA) OZAUKEE $287,375 $337,168 $407,558 $506,495
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI PIERCE $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI ST. CROIX $331,250 $373,092 $453,289 $523,026
MILWAUKEE-WAUKESHA-WEST ALLIS, WI (MSA) WASHINGTON $287,375 $337,168 $407,558 $506,495
MILWAUKEE-WAUKESHA-WEST ALLIS, WI (MSA) WAUKESHA $287,375 $337,168 $407,558 $506,495
WV HAGERSTOWN-MARTINSBURG, MD-WV (MSA) BERKELEY $362,500 $408,289 $496,053 $572,368
WINCHESTER, VA-WV (MSA) HAMPSHIRE $475,000 $535,000 $650,000 $750,000
HAGERSTOWN-MARTINSBURG, MD-WV (MSA) JEFFERSON $477,355 $611,117 $738,699 $888,158
HAGERSTOWN-MARTINSBURG, MD-WV (MSA) MORGAN $362,500 $408,289 $496,053 $572,368
WY JACKSON, WY-ID (MICRO) TETON $477,355 $611,117 $738,699 $918,021

ALL OTHER
AREAS $263,368 $337,168 $407,558 $506,495

20

.02 The nationwide average purchase price (for use in the housing cost/income
ratio for new and existing residences) is $269,600.
SECTION 5. EFFECT ON OTHER DOCUMENTS
Rev. Proc. 2006-17 is obsolete except as provided in section 6 of this revenue
procedure.
SECTION 6. EFFECTIVE DATES
.01 Issuers may rely on this revenue procedure to determine average area
purchase price safe harbors for commitments to provide financing or issue mortgage
credit certificates that are made, or (if the purchase precedes the commitment) for
residences that are purchased, in the period that begins on March 8, 2007, and ends on
the date as of which the safe harbors contained in section 4.01 of this revenue
procedure are rendered obsolete by a new revenue procedure.
.02 Notwithstanding section 5 of this revenue procedure, issuers may continue to
rely on the average area purchase price safe harbors contained in Rev. Proc. 2006-17,
with respect to bonds sold, or for mortgage credit certificates issued with respect to
bond authority exchanged, before April 7, 2007, if the commitments to provide financing
or issue mortgage credit certificates are made on or before May 7, 2007.
.03 Except as provided in section 6.04, issuers must use the nationwide average
purchase price limitation contained in this revenue procedure for commitments to
provide financing or issue mortgage credit certificates that are made, or (if the purchase
precedes the commitment) for residences that are purchased, in the period that begins

21
on March 8, 2007, and ends on the date when the nationwide average purchase price
limitation is rendered obsolete by a new revenue procedure.
.04 Notwithstanding sections 5 and 6.03 of this revenue procedure, issuers may
continue to rely on the nationwide average purchase price set forth in Rev. Proc. 2006-
17 with respect to bonds sold, or for mortgage credit certificates issued with respect to
bond authority exchanged, before April 7, 2007, if the commitments to provide financing
or issue mortgage credit certificates are made on or before May 7, 2007.
SECTION 7. PAPERWORK REDUCTION ACT
The collection of information contained in this revenue procedure has been
reviewed and approved by the Office of Management and Budget in accordance with
the Paperwork Reduction Act (44 U.S.C. 3507) under control number 1545-1877
An agency may not conduct or sponsor, and a person is not required to respond
to, a collection of information unless the collection of information displays a valid OMB
control number.
This revenue procedure contains a collection of information requirement in
section 3.03. The purpose of the collection of information is to verify the applicable FHA
loan limit that issuers of qualified mortgage bonds and qualified mortgage certificates
have used to calculate the average area purchase price for a given metropolitan
statistical area for purposes of section 143(e) and 25(c). The collection of information is
required to obtain the benefit of using revisions to FHA loan limits to determine average
area purchase prices. The likely respondents are state and local governments.
The estimated total annual reporting and/or recordkeeping burden is: 15 hours.

22
The estimated annual burden per respondent and/or recordkeeper: 15 minutes.
The estimated number of respondents and/or recordkeepers: 60.
Books or records relating to a collection of information must be retained as long
as their contents may become material in the administration of any internal revenue law.
Generally tax returns and tax return information are confidential, as required by 26
U.S.C. 6103.
SECTION 8. DRAFTING INFORMATION
The principal authors of this revenue procedure are David E. White
and Timothy
L. Jones of the Office of Division Counsel/Associate Chief Counsel (Tax Exempt &
Government Entities). For further information regarding this revenue procedure contact
David E. White on (202) 622-3980 (not a toll free call).