USDA Rural Development – Section 502 Guaranteed Loan
USDA Rural Development
502 Direct Program
VA Home Loan Program
Down Payment Assistance Programs
Many housing programs are subject to income verification:
Income limits for the Sioux Falls, SD Metro Area are based on household size and are calculated as percentages of the Area Median Income (AMI). These limits are updated annually by the U.S. Department of Housing and Urban Development (HUD).
Important: Minnehaha County is part of the Sioux Falls, SD HUD Metro FMR Area, so the information provided applies across the entire region. While HUD typically follows Office of Management and Budget (OMB) metropolitan definitions, it may use adjusted geographic boundaries—known as HUD Metro FMR Areas—to better reflect local housing market conditions and maintain consistent program guidelines.
|
Household |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
| 30% AMI | $24,950 | $28,500 | $32,050 | $35,600 | $38,450 | $41,300 | $44,150 | $47,000 |
| 40% AMI | $33,250 | $38,000 | $42,750 | $47,500 | $51,700 | $55,100 | $58,900 | $62,650 |
| 50% AMI | $41,550 | $47,500 | $53,450 | $59,350 | $64,100 | $68,850 | $73,600 | $78,350 |
| 60% AMI | $49,860 | $57,000 | $64,140 | $71,220 | $76,920 | $82,620 | $88,320 | $94,020 |
| 80% AMI | $66,500 | $76,000 | $85,500 | $94,950 | $102,550 | $110,150 | $117,750 | $125,350 |
Income are based on a percentage of Median Family Income (MFI) and are established annually by the U.S. Department of Housing and Urban Development (HUD).
These limits are used for programs such as Public Housing and Section 8 (Housing Choice Voucher). Because income limits change every year and vary by household size and program, we recommend checking the most current figures directly:
Some state and local programs may use different income thresholds or additional eligibility criteria. Please contact the specific housing agency or program administrator for the most accurate and up-to-date information.
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FINANCIAL ASSISTANCE
There are more options than you might think when you are ready to finance a home. In addition to traditional bank loans, there are federal programs that may fit your needs.