Example 1: Benefits for Indefinite Time Period
John works as a telemarketer for $9.00 an hour, 40 hours a week. He does not work overtime, has no other source of income, and is not planning to leave his job. His anticipated income is computed as:
($9.00/hour) x (40 hours/week) x (52 weeks/year) = $18,720/year
Example 2: Benefits for Definite Time Period
A teacher’s assistant works nine months annually and receives $1,300 per month. During the summer recess, the teacher’s assistant works for the Parks and Recreation Department for $600 a month. The teacher’s anticipated income is computed as:
($1,300 x 9 months) + ($600 x 3 months) = $13,500
If information is available on changes in income expected to occur during the year, use that information to determine the total anticipated income from all know sources during the year. 22
Example 3: Anticipated Changes in Income
In May 2004, an unemployed plumber applies for LIHC housing. At that time, the plumber is receiving unemployment benefits of $250.00 per month and will qualify for benefits for 4 more months.23 Beginning in October, the plumber will be employed at $1,000 per month. The plumber’s anticipated income is computed for the period from May to September, 2004 plus the income for October 2004 through May 2005.
($250.00 x 5 months) + ($1,000 x 7 months) = $8,250 *Owners are expected to make reasonable judgments regarding the most reliable method for estimating the income a household will receive during the year. *If the tenant’s income cannot be determined using current information, the owner may include actual income received or earned within the 12-month period before the determination of annual income.*
Example 4: Sporadic Employment
Justine is disabled and not always able to work full-time. She has income from disability insurance and a family trust, and also works as a typist with a temporary agency when she is well. Last year she worked nearly six months, but at the time she applies for an LIHC apartment, she has more medical problems and does not know when or how much she will be able to work.
See Footnote #2. The HUD Handbook 4350.3, Chapter 5, paragraph 5-5(A)(1) refers to unemployment compensation as an example of income that may not last for a full 12 months.
Revised October 2009