Internal Revenue Bulletin:  2007-13 

March 26, 2007 

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 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.

.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 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 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 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 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 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 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
  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
  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
  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
  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
  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 (MSA) 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 METROPOLITAN 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 METROPOLITAN LIVINGSTON $297,500 $337,168 $407,558 $506,495
  WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN 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 METROPOLITAN OAKLAND $297,500 $337,168 $407,558 $506,495
  WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN 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
             
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
  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
  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
  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-METROPOLITAN 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-METROPOLITAN 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-METROPOLITAN 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-METROPOLITAN ISLE OF WIGHT $412,500 $464,605 $564,474 $651,316
  VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN 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-METROPOLITAN 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-METROPOLITAN NEWPORT NEWS $412,500 $464,605 $564,474 $651,316
  VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN 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-METROPOLITAN POQUOSON $412,500 $464,605 $564,474 $651,316
  VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN 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
  VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN SUFFOLK $412,500 $464,605 $564,474 $651,316
  VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN 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-METROPOLITAN 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-METROPOLITAN 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-METROPOLITAN 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

.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 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.

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 at (202) 622-3980 (not a toll-free call).


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