Internal Revenue Bulletin:  2010-27 

July 6, 2010 

Rev. Proc. 2010-25


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. 2009-18, 2009-11 I.R.B. 686.

.12 The nationwide average purchase price limitation was last published in section 4.02 of Rev. Proc. 2009-18. 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. 2010-23, 2010-24 I.R.B. 762.

.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 November 25, 2009. 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 November 25, 2009.

.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.

.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 November 25, 2009, 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 1.00.

.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. 2009-18, the issuer must use the nationwide average purchase price set forth in section 4.02 of Rev. Proc. 2009-18 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. 2009-18, 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.

2010 Average Area Purchase Prices for Mortgage Revenue Bonds
County Name State One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit
VALDEZ-CORDOVA AK $271,400 $347,450 $419,950 $521,900
NORTH SLOPE AK $307,050 $393,050 $475,150 $590,500
WRANGELL-PETERS AK $307,050 $393,050 $475,150 $590,500
VALDEZ-CORDOVA AK $271,400 $347,450 $419,950 $521,900
NORTH SLOPE AK $307,050 $393,050 $475,150 $590,500
WRANGELL-PETERS AK $307,050 $393,050 $475,150 $590,500
DENALI AK $316,250 $404,850 $489,350 $608,150
FAIRBANKS NORTH AK $316,250 $404,850 $489,350 $608,150
KETCHIKAN GATEW AK $322,000 $412,200 $498,250 $619,250
KODIAK ISLAND AK $322,000 $412,200 $498,250 $619,250
DILLINGHAM AK $332,500 $425,650 $514,500 $639,400
ANCHORAGE AK $347,500 $444,850 $537,750 $668,250
MATANUSKA-SUSIT AK $347,500 $444,850 $537,750 $668,250
ALEUTIANS WEST AK $356,500 $456,350 $551,650 $685,550
YAKUTAT CITY AK $388,700 $497,600 $601,500 $747,500
JUNEAU AK $398,750 $510,450 $617,050 $766,850
SITKA AK $431,250 $552,050 $667,350 $829,350
           
BALDWIN AL $285,000 $364,850 $441,000 $548,050
RUSSELL AL $289,800 $371,000 $448,450 $557,300
           
APACHE AZ $281,250 $360,050 $435,200 $540,850
NAVAJO AZ $308,750 $395,250 $477,750 $593,750
PIMA AZ $316,250 $404,850 $489,350 $608,150
MOHAVE AZ $322,500 $412,850 $499,050 $620,200
GILA AZ $325,000 $416,050 $502,900 $625,000
MARICOPA AZ $346,250 $443,250 $535,800 $665,850
PINAL AZ $346,250 $443,250 $535,800 $665,850
YAVAPAI AZ $390,000 $499,250 $603,500 $750,000
COCONINO AZ $450,000 $576,050 $696,350 $865,400
           
LASSEN CA $285,000 $364,850 $441,000 $548,050
GLENN CA $287,500 $368,050 $444,900 $552,900
SISKIYOU CA $293,750 $376,050 $454,550 $564,900
SIERRA CA $304,750 $390,100 $471,550 $586,050
DEL NORTE CA $311,250 $398,450 $481,650 $598,550
TEHAMA CA $312,500 $400,050 $483,550 $600,950
IMPERIAL CA $325,000 $416,050 $502,900 $625,000
KINGS CA $325,000 $416,050 $502,900 $625,000
TULARE CA $325,000 $416,050 $502,900 $625,000
KERN CA $368,750 $472,050 $570,600 $709,150
FRESNO CA $381,250 $488,050 $589,950 $733,150
HUMBOLDT CA $393,750 $504,050 $609,300 $757,200
COLUSA CA $397,500 $508,850 $615,100 $764,400
BUTTE CA $400,000 $512,050 $618,950 $769,250
LAKE CA $401,250 $513,650 $620,900 $771,650
PLUMAS CA $410,000 $524,850 $634,450 $788,450
MARIPOSA CA $412,500 $528,050 $638,300 $793,250
SHASTA CA $423,750 $542,450 $655,700 $814,900
STANISLAUS CA $423,750 $542,450 $655,700 $814,900
MADERA CA $425,000 $544,050 $657,650 $817,300
SUTTER CA $425,000 $544,050 $657,650 $817,300
YUBA CA $425,000 $544,050 $657,650 $817,300
INYO CA $437,500 $560,050 $677,000 $841,350
TUOLUMNE CA $437,500 $560,050 $677,000 $841,350
AMADOR CA $443,750 $568,050 $686,650 $853,350
CALAVERAS CA $462,500 $592,050 $715,700 $889,450
MERCED CA $472,500 $604,900 $731,150 $908,650
SAN JOAQUIN CA $488,750 $625,700 $756,300 $939,900
RIVERSIDE CA $500,000 $640,100 $773,700 $961,550
SAN BERNARDINO CA $500,000 $640,100 $773,700 $961,550
MENDOCINO CA $512,500 $656,100 $793,050 $985,600
MONO CA $529,000 $677,200 $818,600 $1,017,300
ALPINE CA $547,500 $700,900 $847,200 $1,052,900
SOLANO CA $557,500 $713,700 $862,700 $1,072,150
NEVADA CA $562,500 $720,100 $870,450 $1,081,750
EL DORADO CA $580,000 $742,500 $897,500 $1,115,400
PLACER CA $580,000 $742,500 $897,500 $1,115,400
SACRAMENTO CA $580,000 $742,500 $897,500 $1,115,400
YOLO CA $580,000 $742,500 $897,500 $1,115,400
SONOMA CA $662,500 $848,100 $1,025,200 $1,274,050
SAN LUIS OBISPO CA $687,500 $880,100 $1,063,850 $1,322,150
SAN DIEGO CA $697,500 $892,950 $1,079,350 $1,341,350
ALAMEDA CA $729,750 $934,200 $1,129,250 $1,403,400
CONTRA COSTA CA $729,750 $934,200 $1,129,250 $1,403,400
LOS ANGELES CA $729,750 $934,200 $1,129,250 $1,403,400
MARIN CA $729,750 $934,200 $1,129,250 $1,403,400
MONTEREY CA $729,750 $934,200 $1,129,250 $1,403,400
NAPA CA $729,750 $934,200 $1,129,250 $1,403,400
ORANGE CA $729,750 $934,200 $1,129,250 $1,403,400
SAN BENITO CA $729,750 $934,200 $1,129,250 $1,403,400
SAN FRANCISCO CA $729,750 $934,200 $1,129,250 $1,403,400
SAN MATEO CA $729,750 $934,200 $1,129,250 $1,403,400
SANTA BARBARA CA $729,750 $934,200 $1,129,250 $1,403,400
SANTA CLARA CA $729,750 $934,200 $1,129,250 $1,403,400
SANTA CRUZ CA $729,750 $934,200 $1,129,250 $1,403,400
VENTURA CA $729,750 $934,200 $1,129,250 $1,403,400
           
CHAFFEE CO $280,000 $358,450 $433,250 $538,450
MINERAL CO $300,000 $384,050 $464,200 $576,900
LARIMER CO $312,500 $400,050 $483,550 $600,950
ARCHULETA CO $317,500 $406,450 $491,300 $610,550
EL PASO CO $325,000 $416,050 $502,900 $625,000
TELLER CO $325,000 $416,050 $502,900 $625,000
GRAND CO $356,250 $456,050 $551,250 $685,100
MESA CO $371,250 $475,250 $574,500 $713,950
ADAMS CO $406,250 $520,050 $628,650 $781,250
ARAPAHOE CO $406,250 $520,050 $628,650 $781,250
BROOMFIELD CO $406,250 $520,050 $628,650 $781,250
CLEAR CREEK CO $406,250 $520,050 $628,650 $781,250
DENVER CO $406,250 $520,050 $628,650 $781,250
DOUGLAS CO $406,250 $520,050 $628,650 $781,250
ELBERT CO $406,250 $520,050 $628,650 $781,250
GILPIN CO $406,250 $520,050 $628,650 $781,250
JEFFERSON CO $406,250 $520,050 $628,650 $781,250
PARK CO $406,250 $520,050 $628,650 $781,250
WELD CO $417,500 $534,450 $646,050 $802,900
GARFIELD CO $425,000 $544,050 $657,650 $817,300
SAN JUAN CO $425,000 $544,050 $657,650 $817,300
GUNNISON CO $433,750 $555,250 $671,200 $834,150
LA PLATA CO $443,750 $568,050 $686,650 $853,350
BOULDER CO $460,000 $588,850 $711,800 $884,600
OURAY CO $482,500 $617,700 $746,650 $927,900
HINSDALE CO $557,500 $713,700 $862,700 $1,072,150
SAN MIGUEL CO $651,250 $833,700 $1,007,750 $1,252,400
ROUTT CO $675,000 $864,100 $1,044,550 $1,298,100
EAGLE CO $729,750 $934,200 $1,129,250 $1,403,400
LAKE CO $729,750 $934,200 $1,129,250 $1,403,400
PITKIN CO $729,750 $934,200 $1,129,250 $1,403,400
SUMMIT CO $729,750 $934,200 $1,129,250 $1,403,400
           
WINDHAM CT $272,500 $348,850 $421,650 $524,050
LITCHFIELD CT $375,000 $480,050 $580,300 $721,150
NEW HAVEN CT $387,500 $496,050 $599,600 $745,200
NEW LONDON CT $398,750 $510,450 $617,050 $766,850
HARTFORD CT $440,000 $563,250 $680,850 $846,150
MIDDLESEX CT $440,000 $563,250 $680,850 $846,150
TOLLAND CT $440,000 $563,250 $680,850 $846,150
FAIRFIELD CT $708,750 $907,350 $1,096,750 $1,363,000
           
DISTRICT OF COL DC $729,750 $934,200 $1,129,250 $1,403,400
           
SUSSEX DE $375,000 $480,050 $580,300 $721,150
KENT DE $376,250 $481,650 $582,200 $723,550
NEW CASTLE DE $420,000 $537,650 $649,900 $807,700
           
SUMTER FL $278,750 $356,850 $431,350 $536,050
INDIAN RIVER FL $283,750 $363,250 $439,050 $545,650
FLAGLER FL $287,500 $368,050 $444,900 $552,900
BREVARD FL $291,250 $372,850 $450,700 $560,100
HERNANDO FL $292,500 $374,450 $452,600 $562,500
HILLSBOROUGH FL $292,500 $374,450 $452,600 $562,500
PASCO FL $292,500 $374,450 $452,600 $562,500
PINELLAS FL $292,500 $374,450 $452,600 $562,500
CHARLOTTE FL $296,250 $379,250 $458,400 $569,700
VOLUSIA FL $303,750 $388,850 $470,000 $584,150
FRANKLIN FL $305,000 $390,450 $471,950 $586,550
OKALOOSA FL $312,500 $400,050 $483,550 $600,950
LAKE FL $353,750 $452,850 $547,400 $680,300
ORANGE FL $353,750 $452,850 $547,400 $680,300
OSCEOLA FL $353,750 $452,850 $547,400 $680,300
SEMINOLE FL $353,750 $452,850 $547,400 $680,300
LEE FL $356,250 $456,050 $551,250 $685,100
WALTON FL $362,790 $464,400 $561,400 $697,650
MARTIN FL $375,000 $480,050 $580,300 $721,150
ST. LUCIE FL $375,000 $480,050 $580,300 $721,150
BAKER FL $387,500 $496,050 $599,600 $745,200
CLAY FL $387,500 $496,050 $599,600 $745,200
DUVAL FL $387,500 $496,050 $599,600 $745,200
NASSAU FL $387,500 $496,050 $599,600 $745,200
ST. JOHNS FL $387,500 $496,050 $599,600 $745,200
BAY FL $396,250 $507,250 $613,150 $762,000
BROWARD FL $423,750 $542,450 $655,700 $814,900
MIAMI-DADE FL $423,750 $542,450 $655,700 $814,900
PALM BEACH FL $423,750 $542,450 $655,700 $814,900
MANATEE FL $442,500 $566,450 $684,750 $850,950
SARASOTA FL $442,500 $566,450 $684,750 $850,950
COLLIER FL $531,250 $680,100 $822,050 $1,021,650
MONROE FL $729,750 $934,200 $1,129,250 $1,403,400
           
BRANTLEY GA $276,250 $353,650 $427,450 $531,250
GLYNN GA $276,250 $353,650 $427,450 $531,250
MCINTOSH GA $276,250 $353,650 $427,450 $531,250
CHATTAHOOCHEE GA $289,800 $371,000 $448,450 $557,300
HARRIS GA $289,800 $371,000 $448,450 $557,300
MARION GA $289,800 $371,000 $448,450 $557,300
MUSCOGEE GA $289,800 $371,000 $448,450 $557,300
CLARKE GA $298,750 $382,450 $462,300 $574,500
MADISON GA $298,750 $382,450 $462,300 $574,500
OCONEE GA $298,750 $382,450 $462,300 $574,500
OGLETHORPE GA $298,750 $382,450 $462,300 $574,500
BARROW GA $346,250 $443,250 $535,800 $665,850
BARTOW GA $346,250 $443,250 $535,800 $665,850
BUTTS GA $346,250 $443,250 $535,800 $665,850
CARROLL GA $346,250 $443,250 $535,800 $665,850
CHEROKEE GA $346,250 $443,250 $535,800 $665,850
CLAYTON GA $346,250 $443,250 $535,800 $665,850
COBB GA $346,250 $443,250 $535,800 $665,850
COWETA GA $346,250 $443,250 $535,800 $665,850
DAWSON GA $346,250 $443,250 $535,800 $665,850
DEKALB GA $346,250 $443,250 $535,800 $665,850
DOUGLAS GA $346,250 $443,250 $535,800 $665,850
FAYETTE GA $346,250 $443,250 $535,800 $665,850
FORSYTH GA $346,250 $443,250 $535,800 $665,850
FULTON GA $346,250 $443,250 $535,800 $665,850
GWINNETT GA $346,250 $443,250 $535,800 $665,850
HARALSON GA $346,250 $443,250 $535,800 $665,850
HEARD GA $346,250 $443,250 $535,800 $665,850
HENRY GA $346,250 $443,250 $535,800 $665,850
JASPER GA $346,250 $443,250 $535,800 $665,850
LAMAR GA $346,250 $443,250 $535,800 $665,850
MERIWETHER GA $346,250 $443,250 $535,800 $665,850
NEWTON GA $346,250 $443,250 $535,800 $665,850
PAULDING GA $346,250 $443,250 $535,800 $665,850
PICKENS GA $346,250 $443,250 $535,800 $665,850
PIKE GA $346,250 $443,250 $535,800 $665,850
ROCKDALE GA $346,250 $443,250 $535,800 $665,850
SPALDING GA $346,250 $443,250 $535,800 $665,850
WALTON GA $346,250 $443,250 $535,800 $665,850
GREENE GA $662,500 $848,100 $1,025,200 $1,274,050
           
HAWAII HI $618,750 $792,100 $957,500 $1,189,900
KALAWAO HI $716,250 $916,950 $1,108,350 $1,377,450
HONOLULU HI $793,750 $1,016,150 $1,228,300 $1,526,450
MAUI HI $790,000 $1,011,350 $1,222,500 $1,519,250
KAUAI HI $773,750 $990,550 $1,197,350 $1,488,000
           
ADAMS ID $273,750 $350,450 $423,600 $526,450
KOOTENAI ID $286,250 $366,450 $442,950 $550,450
ADA ID $303,750 $388,850 $470,000 $584,150
BOISE ID $303,750 $388,850 $470,000 $584,150
CANYON ID $303,750 $388,850 $470,000 $584,150
GEM ID $303,750 $388,850 $470,000 $584,150
OWYHEE ID $303,750 $388,850 $470,000 $584,150
VALLEY ID $462,500 $592,050 $715,700 $889,450
TETON ID $693,750 $888,100 $1,073,550 $1,334,150
BLAINE ID $729,750 $934,200 $1,129,250 $1,403,400
           
BOND IL $281,250 $360,050 $435,200 $540,850
CALHOUN IL $281,250 $360,050 $435,200 $540,850
CLINTON IL $281,250 $360,050 $435,200 $540,850
JERSEY IL $281,250 $360,050 $435,200 $540,850
MACOUPIN IL $281,250 $360,050 $435,200 $540,850
MADISON IL $281,250 $360,050 $435,200 $540,850
MONROE IL $281,250 $360,050 $435,200 $540,850
ST. CLAIR IL $281,250 $360,050 $435,200 $540,850
BOONE IL $339,250 $434,300 $524,950 $652,400
WINNEBAGO IL $339,250 $434,300 $524,950 $652,400
COOK IL $410,000 $524,850 $634,450 $788,450
DEKALB IL $410,000 $524,850 $634,450 $788,450
DUPAGE IL $410,000 $524,850 $634,450 $788,450
GRUNDY IL $410,000 $524,850 $634,450 $788,450
KANE IL $410,000 $524,850 $634,450 $788,450
KENDALL IL $410,000 $524,850 $634,450 $788,450
LAKE IL $410,000 $524,850 $634,450 $788,450
MCHENRY IL $410,000 $524,850 $634,450 $788,450
WILL IL $410,000 $524,850 $634,450 $788,450
           
CLARK IN $302,500 $387,250 $468,100 $581,750
FLOYD IN $302,500 $387,250 $468,100 $581,750
HARRISON IN $302,500 $387,250 $468,100 $581,750
WASHINGTON IN $302,500 $387,250 $468,100 $581,750
DEARBORN IN $337,500 $432,050 $522,250 $649,050
FRANKLIN IN $337,500 $432,050 $522,250 $649,050
OHIO IN $337,500 $432,050 $522,250 $649,050
JASPER IN $410,000 $524,850 $634,450 $788,450
LAKE IN $410,000 $524,850 $634,450 $788,450
NEWTON IN $410,000 $524,850 $634,450 $788,450
PORTER IN $410,000 $524,850 $634,450 $788,450
           
BULLITT KY $302,500 $387,250 $468,100 $581,750
HENRY KY $302,500 $387,250 $468,100 $581,750
JEFFERSON KY $302,500 $387,250 $468,100 $581,750
MEADE KY $302,500 $387,250 $468,100 $581,750
NELSON KY $302,500 $387,250 $468,100 $581,750
OLDHAM KY $302,500 $387,250 $468,100 $581,750
SHELBY KY $302,500 $387,250 $468,100 $581,750
SPENCER KY $302,500 $387,250 $468,100 $581,750
TRIMBLE KY $302,500 $387,250 $468,100 $581,750
BOONE KY $337,500 $432,050 $522,250 $649,050
BRACKEN KY $337,500 $432,050 $522,250 $649,050
CAMPBELL KY $337,500 $432,050 $522,250 $649,050
GALLATIN KY $337,500 $432,050 $522,250 $649,050
GRANT KY $337,500 $432,050 $522,250 $649,050
KENTON KY $337,500 $432,050 $522,250 $649,050
PENDLETON KY $337,500 $432,050 $522,250 $649,050
           
ASCENSION LA $280,000 $358,450 $433,250 $538,450
EAST BATON ROUG LA $280,000 $358,450 $433,250 $538,450
EAST FELICIANA LA $280,000 $358,450 $433,250 $538,450
IBERVILLE LA $280,000 $358,450 $433,250 $538,450
LIVINGSTON LA $280,000 $358,450 $433,250 $538,450
POINTE COUPEE LA $280,000 $358,450 $433,250 $538,450
ST. HELENA LA $280,000 $358,450 $433,250 $538,450
WEST BATON ROUG LA $280,000 $358,450 $433,250 $538,450
WEST FELICIANA LA $280,000 $358,450 $433,250 $538,450
JEFFERSON LA $287,500 $368,050 $444,900 $552,900
ORLEANS LA $287,500 $368,050 $444,900 $552,900
PLAQUEMINES LA $287,500 $368,050 $444,900 $552,900
ST. BERNARD LA $287,500 $368,050 $444,900 $552,900
ST. CHARLES LA $287,500 $368,050 $444,900 $552,900
ST. JOHN THE BA LA $287,500 $368,050 $444,900 $552,900
ST. TAMMANY LA $287,500 $368,050 $444,900 $552,900
           
FRANKLIN MA $318,750 $408,050 $493,250 $613,000
HAMPDEN MA $318,750 $408,050 $493,250 $613,000
HAMPSHIRE MA $318,750 $408,050 $493,250 $613,000
WORCESTER MA $385,000 $492,850 $595,750 $740,400
BARNSTABLE MA $462,500 $592,050 $715,700 $889,450
BRISTOL MA $475,000 $608,100 $735,050 $913,450
ESSEX MA $523,750 $670,500 $810,450 $1,007,200
MIDDLESEX MA $523,750 $670,500 $810,450 $1,007,200
NORFOLK MA $523,750 $670,500 $810,450 $1,007,200
PLYMOUTH MA $523,750 $670,500 $810,450 $1,007,200
SUFFOLK MA $523,750 $670,500 $810,450 $1,007,200
DUKES MA $729,750 $934,200 $1,129,250 $1,403,400
NANTUCKET MA $729,750 $934,200 $1,129,250 $1,403,400
           
SOMERSET MD $328,750 $420,850 $508,700 $632,200
WICOMICO MD $328,750 $420,850 $508,700 $632,200
KENT MD $343,750 $440,050 $531,900 $661,050
WASHINGTON MD $377,500 $483,250 $584,150 $725,950
ST. MARY’S MD $400,000 $512,050 $618,950 $769,250
CECIL MD $420,000 $537,650 $649,900 $807,700
GARRETT MD $437,500 $560,050 $677,000 $841,350
WORCESTER MD $437,500 $560,050 $677,000 $841,350
TALBOT MD $443,750 $568,050 $686,650 $853,350
ANNE ARUNDEL MD $560,000 $716,900 $866,550 $1,076,950
BALTIMORE MD $560,000 $716,900 $866,550 $1,076,950
BALTIMORE CITY MD $560,000 $716,900 $866,550 $1,076,950
CARROLL MD $560,000 $716,900 $866,550 $1,076,950
HARFORD MD $560,000 $716,900 $866,550 $1,076,950
HOWARD MD $560,000 $716,900 $866,550 $1,076,950
QUEEN ANNE’S MD $560,000 $716,900 $866,550 $1,076,950
CALVERT MD $729,750 $934,200 $1,129,250 $1,403,400
CHARLES MD $729,750 $934,200 $1,129,250 $1,403,400
FREDERICK MD $729,750 $934,200 $1,129,250 $1,403,400
MONTGOMERY MD $729,750 $934,200 $1,129,250 $1,403,400
PRINCE GEORGE’S MD $729,750 $934,200 $1,129,250 $1,403,400
           
HANCOCK ME $272,500 $348,850 $421,650 $524,050
KNOX ME $279,450 $357,750 $432,400 $537,400
LINCOLN ME $318,750 $408,050 $493,250 $613,000
CUMBERLAND ME $337,500 $432,050 $522,250 $649,050
SAGADAHOC ME $337,500 $432,050 $522,250 $649,050
YORK ME $337,500 $432,050 $522,250 $649,050
           
KALAMAZOO MI $286,250 $366,450 $442,950 $550,450
VAN BUREN MI $286,250 $366,450 $442,950 $550,450
LAPEER MI $297,500 $380,850 $460,350 $572,100
LENAWEE MI $297,500 $380,850 $460,350 $572,100
LIVINGSTON MI $297,500 $380,850 $460,350 $572,100
MACOMB MI $297,500 $380,850 $460,350 $572,100
MONROE MI $297,500 $380,850 $460,350 $572,100
OAKLAND MI $297,500 $380,850 $460,350 $572,100
ST. CLAIR MI $297,500 $380,850 $460,350 $572,100
WAYNE MI $297,500 $380,850 $460,350 $572,100
BERRIEN MI $298,750 $382,450 $462,300 $574,500
WASHTENAW MI $345,000 $441,650 $533,850 $663,450
           
COOK MN $296,250 $379,250 $458,400 $569,700
ANOKA MN $365,000 $467,250 $564,800 $701,900
CARVER MN $365,000 $467,250 $564,800 $701,900
CHISAGO MN $365,000 $467,250 $564,800 $701,900
DAKOTA MN $365,000 $467,250 $564,800 $701,900
HENNEPIN MN $365,000 $467,250 $564,800 $701,900
ISANTI MN $365,000 $467,250 $564,800 $701,900
RAMSEY MN $365,000 $467,250 $564,800 $701,900
SCOTT MN $365,000 $467,250 $564,800 $701,900
SHERBURNE MN $365,000 $467,250 $564,800 $701,900
WASHINGTON MN $365,000 $467,250 $564,800 $701,900
WRIGHT MN $365,000 $467,250 $564,800 $701,900
           
CRAWFORD MO $281,250 $360,050 $435,200 $540,850
FRANKLIN MO $281,250 $360,050 $435,200 $540,850
JEFFERSON MO $281,250 $360,050 $435,200 $540,850
LINCOLN MO $281,250 $360,050 $435,200 $540,850
ST. CHARLES MO $281,250 $360,050 $435,200 $540,850
ST. LOUIS MO $281,250 $360,050 $435,200 $540,850
ST. LOUIS CITY MO $281,250 $360,050 $435,200 $540,850
WARREN MO $281,250 $360,050 $435,200 $540,850
WASHINGTON MO $281,250 $360,050 $435,200 $540,850
           
MADISON MT $281,750 $360,700 $436,000 $541,800
CARBON MT $291,250 $372,850 $450,700 $560,100
MISSOULA MT $291,250 $372,850 $450,700 $560,100
YELLOWSTONE MT $291,250 $372,850 $450,700 $560,100
LAKE MT $301,250 $385,650 $466,150 $579,300
FLATHEAD MT $301,300 $385,700 $466,250 $579,400
RAVALLI MT $303,750 $388,850 $470,000 $584,150
JEFFERSON MT $341,250 $436,850 $528,050 $656,250
LEWIS AND CLARK MT $341,250 $436,850 $528,050 $656,250
SWEET GRASS MT $346,250 $443,250 $535,800 $665,850
GALLATIN MT $386,250 $494,450 $597,700 $742,800
           
WATAUGA NC $285,000 $364,850 $441,000 $548,050
CARTERET NC $287,500 $368,050 $444,900 $552,900
TRANSYLVANIA NC $293,750 $376,050 $454,550 $564,900
FRANKLIN NC $295,000 $377,650 $456,500 $567,300
JOHNSTON NC $295,000 $377,650 $456,500 $567,300
WAKE NC $295,000 $377,650 $456,500 $567,300
ANSON NC $303,750 $388,850 $470,000 $584,150
BRUNSWICK NC $303,750 $388,850 $470,000 $584,150
BUNCOMBE NC $303,750 $388,850 $470,000 $584,150
CABARRUS NC $303,750 $388,850 $470,000 $584,150
GASTON NC $303,750 $388,850 $470,000 $584,150
HAYWOOD NC $303,750 $388,850 $470,000 $584,150
HENDERSON NC $303,750 $388,850 $470,000 $584,150
MADISON NC $303,750 $388,850 $470,000 $584,150
MECKLENBURG NC $303,750 $388,850 $470,000 $584,150
NEW HANOVER NC $303,750 $388,850 $470,000 $584,150
PENDER NC $303,750 $388,850 $470,000 $584,150
UNION NC $303,750 $388,850 $470,000 $584,150
ONSLOW NC $306,250 $392,050 $473,900 $588,950
CHATHAM NC $334,650 $428,400 $517,850 $643,550
DURHAM NC $334,650 $428,400 $517,850 $643,550
ORANGE NC $334,650 $428,400 $517,850 $643,550
PERSON NC $334,650 $428,400 $517,850 $643,550
CURRITUCK NC $458,850 $587,400 $710,050 $882,400
DARE NC $460,000 $588,850 $711,800 $884,600
HYDE NC $483,000 $618,300 $747,400 $928,850
CAMDEN NC $729,750 $934,200 $1,129,250 $1,403,400
PASQUOTANK NC $729,750 $934,200 $1,129,250 $1,403,400
PERQUIMANS NC $729,750 $934,200 $1,129,250 $1,403,400
           
BELKNAP NH $281,250 $360,050 $435,200 $540,850
GRAFTON NH $281,250 $360,050 $435,200 $540,850
MERRIMACK NH $302,500 $387,250 $468,100 $581,750
HILLSBOROUGH NH $402,500 $515,250 $622,850 $774,050
ROCKINGHAM NH $523,750 $670,500 $810,450 $1,007,200
STRAFFORD NH $523,750 $670,500 $810,450 $1,007,200
           
WARREN NJ $402,500 $515,250 $622,850 $774,050
CUMBERLAND NJ $405,000 $518,450 $626,700 $778,850
BURLINGTON NJ $420,000 $537,650 $649,900 $807,700
CAMDEN NJ $420,000 $537,650 $649,900 $807,700
GLOUCESTER NJ $420,000 $537,650 $649,900 $807,700
SALEM NJ $420,000 $537,650 $649,900 $807,700
MERCER NJ $440,000 $563,250 $680,850 $846,150
ATLANTIC NJ $453,750 $580,850 $702,150 $872,600
CAPE MAY NJ $487,500 $624,100 $754,350 $937,500
BERGEN NJ $729,750 $934,200 $1,129,250 $1,403,400
ESSEX NJ $729,750 $934,200 $1,129,250 $1,403,400
HUDSON NJ $729,750 $934,200 $1,129,250 $1,403,400
HUNTERDON NJ $729,750 $934,200 $1,129,250 $1,403,400
MIDDLESEX NJ $729,750 $934,200 $1,129,250 $1,403,400
MONMOUTH NJ $729,750 $934,200 $1,129,250 $1,403,400
MORRIS NJ $729,750 $934,200 $1,129,250 $1,403,400
OCEAN NJ $729,750 $934,200 $1,129,250 $1,403,400
PASSAIC NJ $729,750 $934,200 $1,129,250 $1,403,400
SOMERSET NJ $729,750 $934,200 $1,129,250 $1,403,400
SUSSEX NJ $729,750 $934,200 $1,129,250 $1,403,400
UNION NJ $729,750 $934,200 $1,129,250 $1,403,400
           
SAN JUAN NM $281,250 $360,050 $435,200 $540,850
LOS ALAMOS NM $380,650 $487,300 $589,000 $732,000
SANTA FE NM $427,500 $547,250 $661,500 $822,100
           
ELKO NV $325,000 $416,050 $502,900 $625,000
EUREKA NV $325,000 $416,050 $502,900 $625,000
NYE NV $325,000 $416,050 $502,900 $625,000
LYON NV $331,250 $424,050 $512,600 $637,000
CARSON CITY NV $398,750 $510,450 $617,050 $766,850
CLARK NV $400,000 $512,050 $618,950 $769,250
STOREY NV $403,750 $516,850 $624,750 $776,450
WASHOE NV $403,750 $516,850 $624,750 $776,450
DOUGLAS NV $468,750 $600,100 $725,350 $901,450
           
COLUMBIA NY $276,250 $353,650 $427,450 $531,250
ERIE NY $276,250 $353,650 $427,450 $531,250
NIAGARA NY $276,250 $353,650 $427,450 $531,250
MADISON NY $281,250 $360,050 $435,200 $540,850
ONONDAGA NY $281,250 $360,050 $435,200 $540,850
OSWEGO NY $281,250 $360,050 $435,200 $540,850
ALBANY NY $312,500 $400,050 $483,550 $600,950
RENSSELAER NY $312,500 $400,050 $483,550 $600,950
SARATOGA NY $312,500 $400,050 $483,550 $600,950
SCHENECTADY NY $312,500 $400,050 $483,550 $600,950
SCHOHARIE NY $312,500 $400,050 $483,550 $600,950
ULSTER NY $406,250 $520,050 $628,650 $781,250
DUTCHESS NY $443,750 $568,050 $686,650 $853,350
ORANGE NY $443,750 $568,050 $686,650 $853,350
BRONX NY $729,750 $934,200 $1,129,250 $1,403,400
KINGS NY $729,750 $934,200 $1,129,250 $1,403,400
NASSAU NY $729,750 $934,200 $1,129,250 $1,403,400
NEW YORK NY $729,750 $934,200 $1,129,250 $1,403,400
PUTNAM NY $729,750 $934,200 $1,129,250 $1,403,400
QUEENS NY $729,750 $934,200 $1,129,250 $1,403,400
RICHMOND NY $729,750 $934,200 $1,129,250 $1,403,400
ROCKLAND NY $729,750 $934,200 $1,129,250 $1,403,400
SUFFOLK NY $729,750 $934,200 $1,129,250 $1,403,400
WESTCHESTER NY $729,750 $934,200 $1,129,250 $1,403,400
           
GREENE OH $271,250 $347,250 $419,750 $521,650
MIAMI OH $271,250 $347,250 $419,750 $521,650
MONTGOMERY OH $271,250 $347,250 $419,750 $521,650
PREBLE OH $271,250 $347,250 $419,750 $521,650
CARROLL OH $277,500 $355,250 $429,400 $533,650
STARK OH $277,500 $355,250 $429,400 $533,650
ASHTABULA OH $291,250 $372,850 $450,700 $560,100
MERCER OH $292,500 $374,450 $452,600 $562,500
CUYAHOGA OH $298,750 $382,450 $462,300 $574,500
GEAUGA OH $298,750 $382,450 $462,300 $574,500
LAKE OH $298,750 $382,450 $462,300 $574,500
LORAIN OH $298,750 $382,450 $462,300 $574,500
MEDINA OH $298,750 $382,450 $462,300 $574,500
VAN WERT OH $301,250 $385,650 $466,150 $579,300
PORTAGE OH $330,000 $422,450 $510,650 $634,600
SUMMIT OH $330,000 $422,450 $510,650 $634,600
BROWN OH $337,500 $432,050 $522,250 $649,050
BUTLER OH $337,500 $432,050 $522,250 $649,050
CLERMONT OH $337,500 $432,050 $522,250 $649,050
HAMILTON OH $337,500 $432,050 $522,250 $649,050
WARREN OH $337,500 $432,050 $522,250 $649,050
DELAWARE OH $341,250 $436,850 $528,050 $656,250
FAIRFIELD OH $341,250 $436,850 $528,050 $656,250
FRANKLIN OH $341,250 $436,850 $528,050 $656,250
LICKING OH $341,250 $436,850 $528,050 $656,250
MADISON OH $341,250 $436,850 $528,050 $656,250
MORROW OH $341,250 $436,850 $528,050 $656,250
PICKAWAY OH $341,250 $436,850 $528,050 $656,250
UNION OH $341,250 $436,850 $528,050 $656,250
ATHENS OH $432,500 $553,650 $669,250 $831,750
           
MARION OR $295,000 $377,650 $456,500 $567,300
POLK OR $295,000 $377,650 $456,500 $567,300
LINCOLN OR $312,500 $400,050 $483,550 $600,950
JOSEPHINE OR $325,000 $416,050 $502,900 $625,000
BENTON OR $337,500 $432,050 $522,250 $649,050
LANE OR $343,750 $440,050 $531,900 $661,050
TILLAMOOK OR $343,750 $440,050 $531,900 $661,050
CLATSOP OR $347,500 $444,850 $537,750 $668,250
CURRY OR $351,250 $449,650 $543,550 $675,500
HOOD RIVER OR $393,750 $504,050 $609,300 $757,200
CLACKAMAS OR $418,750 $536,050 $648,000 $805,300
COLUMBIA OR $418,750 $536,050 $648,000 $805,300
MULTNOMAH OR $418,750 $536,050 $648,000 $805,300
WASHINGTON OR $418,750 $536,050 $648,000 $805,300
YAMHILL OR $418,750 $536,050 $648,000 $805,300
JACKSON OR $422,500 $540,850 $653,800 $812,500
DESCHUTES OR $447,500 $572,850 $692,450 $860,600
           
CENTRE PA $280,000 $358,450 $433,250 $538,450
BERKS PA $300,000 $384,050 $464,200 $576,900
ALLEGHENY PA $327,500 $419,250 $506,800 $629,800
ARMSTRONG PA $327,500 $419,250 $506,800 $629,800
BEAVER PA $327,500 $419,250 $506,800 $629,800
BUTLER PA $327,500 $419,250 $506,800 $629,800
FAYETTE PA $327,500 $419,250 $506,800 $629,800
WASHINGTON PA $327,500 $419,250 $506,800 $629,800
WESTMORELAND PA $327,500 $419,250 $506,800 $629,800
LANCASTER PA $383,750 $491,250 $593,800 $738,000
CARBON PA $402,500 $515,250 $622,850 $774,050
LEHIGH PA $402,500 $515,250 $622,850 $774,050
NORTHAMPTON PA $402,500 $515,250 $622,850 $774,050
BUCKS PA $420,000 $537,650 $649,900 $807,700
CHESTER PA $420,000 $537,650 $649,900 $807,700
DELAWARE PA $420,000 $537,650 $649,900 $807,700
MONTGOMERY PA $420,000 $537,650 $649,900 $807,700
PHILADELPHIA PA $420,000 $537,650 $649,900 $807,700
YORK PA $425,000 $544,050 $657,650 $817,300
PIKE PA $729,750 $934,200 $1,129,250 $1,403,400
           
BRISTOL RI $475,000 $608,100 $735,050 $913,450
KENT RI $475,000 $608,100 $735,050 $913,450
NEWPORT RI $475,000 $608,100 $735,050 $913,450
PROVIDENCE RI $475,000 $608,100 $735,050 $913,450
WASHINGTON RI $475,000 $608,100 $735,050 $913,450
           
HORRY SC $286,250 $366,450 $442,950 $550,450
GREENVILLE SC $295,000 $377,650 $456,500 $567,300
LAURENS SC $295,000 $377,650 $456,500 $567,300
PICKENS SC $295,000 $377,650 $456,500 $567,300
YORK SC $303,750 $388,850 $470,000 $584,150
BERKELEY SC $335,000 $428,850 $518,400 $644,250
CHARLESTON SC $335,000 $428,850 $518,400 $644,250
DORCHESTER SC $335,000 $428,850 $518,400 $644,250
BEAUFORT SC $387,500 $496,050 $599,600 $745,200
JASPER SC $387,500 $496,050 $599,600 $745,200
GEORGETOWN SC $395,000 $505,650 $611,250 $759,600
           
CANNON TN $432,500 $553,650 $669,250 $831,750
CHEATHAM TN $432,500 $553,650 $669,250 $831,750
DAVIDSON TN $432,500 $553,650 $669,250 $831,750
DICKSON TN $432,500 $553,650 $669,250 $831,750
HICKMAN TN $432,500 $553,650 $669,250 $831,750
MACON TN $432,500 $553,650 $669,250 $831,750
ROBERTSON TN $432,500 $553,650 $669,250 $831,750
RUTHERFORD TN $432,500 $553,650 $669,250 $831,750
SMITH TN $432,500 $553,650 $669,250 $831,750
SUMNER TN $432,500 $553,650 $669,250 $831,750
TROUSDALE TN $432,500 $553,650 $669,250 $831,750
WILLIAMSON TN $432,500 $553,650 $669,250 $831,750
WILSON TN $432,500 $553,650 $669,250 $831,750
           
JEFF DAVIS TX $271,250 $347,250 $419,750 $521,650
BASTROP TX $288,750 $369,650 $446,800 $555,300
CALDWELL TX $288,750 $369,650 $446,800 $555,300
HAYS TX $288,750 $369,650 $446,800 $555,300
TRAVIS TX $288,750 $369,650 $446,800 $555,300
WILLIAMSON TX $288,750 $369,650 $446,800 $555,300
ATASCOSA TX $332,500 $425,650 $514,500 $639,400
BANDERA TX $332,500 $425,650 $514,500 $639,400
BEXAR TX $332,500 $425,650 $514,500 $639,400
COMAL TX $332,500 $425,650 $514,500 $639,400
GUADALUPE TX $332,500 $425,650 $514,500 $639,400
KENDALL TX $332,500 $425,650 $514,500 $639,400
MEDINA TX $332,500 $425,650 $514,500 $639,400
WILSON TX $332,500 $425,650 $514,500 $639,400
           
RICH UT $296,700 $379,800 $459,100 $570,550
DAGGETT UT $302,450 $387,200 $468,000 $581,650
JUAB UT $323,750 $414,450 $500,950 $622,600
UTAH UT $323,750 $414,450 $500,950 $622,600
WASHINGTON UT $372,500 $476,850 $576,400 $716,350
KANE UT $383,750 $491,250 $593,800 $738,000
DAVIS UT $397,500 $508,850 $615,100 $764,400
MORGAN UT $397,500 $508,850 $615,100 $764,400
WEBER UT $397,500 $508,850 $615,100 $764,400
WASATCH UT $431,250 $552,050 $667,350 $829,350
SALT LAKE UT $729,750 $934,200 $1,129,250 $1,403,400
SUMMIT UT $729,750 $934,200 $1,129,250 $1,403,400
TOOELE UT $729,750 $934,200 $1,129,250 $1,403,400
           
HARRISONBURG VA $277,150 $354,800 $428,850 $532,950
ROCKINGHAM VA $277,150 $354,800 $428,850 $532,950
MADISON VA $277,500 $355,250 $429,400 $533,650
BOTETOURT VA $280,000 $358,450 $433,250 $538,450
CRAIG VA $280,000 $358,450 $433,250 $538,450
FRANKLIN VA $280,000 $358,450 $433,250 $538,450
ROANOKE VA $280,000 $358,450 $433,250 $538,450
ROANOKE IND VA $280,000 $358,450 $433,250 $538,450
SALEM VA $280,000 $358,450 $433,250 $538,450
HIGHLAND VA $287,500 $368,050 $444,900 $552,900
AMHERST VA $292,100 $373,950 $452,000 $561,700
APPOMATTOX VA $292,100 $373,950 $452,000 $561,700
BEDFORD VA $292,100 $373,950 $452,000 $561,700
BEDFORD IND VA $292,100 $373,950 $452,000 $561,700
CAMPBELL VA $292,100 $373,950 $452,000 $561,700
GILES VA $292,100 $373,950 $452,000 $561,700
LYNCHBURG VA $292,100 $373,950 $452,000 $561,700
MONTGOMERY VA $292,100 $373,950 $452,000 $561,700
PULASKI VA $292,100 $373,950 $452,000 $561,700
RADFORD VA $292,100 $373,950 $452,000 $561,700
LEXINGTON VA $296,250 $379,250 $458,400 $569,700
RICHMOND VA $300,000 $384,050 $464,200 $576,900
MIDDLESEX VA $330,000 $422,450 $510,650 $634,600
ORANGE VA $331,250 $424,050 $512,600 $637,000
RAPPAHANNOCK VA $359,950 $460,800 $557,000 $692,200
ESSEX VA $375,000 $480,050 $580,300 $721,150
CULPEPER VA $382,500 $489,650 $591,900 $735,600
KING GEORGE VA $386,250 $494,450 $597,700 $742,800
NORTHUMBERLAND VA $392,500 $502,450 $607,350 $754,800
ALBEMARLE VA $437,000 $559,450 $676,200 $840,400
CHARLOTTESVILLE VA $437,000 $559,450 $676,200 $840,400
FLUVANNA VA $437,000 $559,450 $676,200 $840,400
GREENE VA $437,000 $559,450 $676,200 $840,400
NELSON VA $437,000 $559,450 $676,200 $840,400
CHESAPEAKE VA $458,850 $587,400 $710,050 $882,400
GLOUCESTER VA $458,850 $587,400 $710,050 $882,400
HAMPTON VA $458,850 $587,400 $710,050 $882,400
ISLE OF WIGHT VA $458,850 $587,400 $710,050 $882,400
JAMES CITY VA $458,850 $587,400 $710,050 $882,400
MATHEWS VA $458,850 $587,400 $710,050 $882,400
NEWPORT NEWS VA $458,850 $587,400 $710,050 $882,400
NORFOLK VA $458,850 $587,400 $710,050 $882,400
POQUOSON VA $458,850 $587,400 $710,050 $882,400
PORTSMOUTH VA $458,850 $587,400 $710,050 $882,400
SUFFOLK VA $458,850 $587,400 $710,050 $882,400
SURRY VA $458,850 $587,400 $710,050 $882,400
VIRGINIA BEACH VA $458,850 $587,400 $710,050 $882,400
WILLIAMSBURG VA $458,850 $587,400 $710,050 $882,400
YORK VA $458,850 $587,400 $710,050 $882,400
FREDERICK VA $475,000 $608,100 $735,050 $913,450
WINCHESTER VA $475,000 $608,100 $735,050 $913,450
AMELIA VA $535,900 $686,050 $829,250 $1,030,600
CAROLINE VA $535,900 $686,050 $829,250 $1,030,600
CHARLES CITY VA $535,900 $686,050 $829,250 $1,030,600
CHESTERFIELD VA $535,900 $686,050 $829,250 $1,030,600
COLONIAL HEIGHT VA $535,900 $686,050 $829,250 $1,030,600
CUMBERLAND VA $535,900 $686,050 $829,250 $1,030,600
DINWIDDIE VA $535,900 $686,050 $829,250 $1,030,600
GOOCHLAND VA $535,900 $686,050 $829,250 $1,030,600
HANOVER VA $535,900 $686,050 $829,250 $1,030,600
HENRICO VA $535,900 $686,050 $829,250 $1,030,600
HOPEWELL VA $535,900 $686,050 $829,250 $1,030,600
KING AND QUEEN VA $535,900 $686,050 $829,250 $1,030,600
KING WILLIAM VA $535,900 $686,050 $829,250 $1,030,600
LOUISA VA $535,900 $686,050 $829,250 $1,030,600
NEW KENT VA $535,900 $686,050 $829,250 $1,030,600
PETERSBURG VA $535,900 $686,050 $829,250 $1,030,600
POWHATAN VA $535,900 $686,050 $829,250 $1,030,600
PRINCE GEORGE VA $535,900 $686,050 $829,250 $1,030,600
RICHMOND IND VA $535,900 $686,050 $829,250 $1,030,600
SUSSEX VA $535,900 $686,050 $829,250 $1,030,600
LANCASTER VA $545,000 $697,700 $843,350 $1,048,100
ALEXANDRIA VA $729,750 $934,200 $1,129,250 $1,403,400
ARLINGTON VA $729,750 $934,200 $1,129,250 $1,403,400
CLARKE VA $729,750 $934,200 $1,129,250 $1,403,400
FAIRFAX VA $729,750 $934,200 $1,129,250 $1,403,400
FAIRFAX IND VA $729,750 $934,200 $1,129,250 $1,403,400
FALLS CHURCH VA $729,750 $934,200 $1,129,250 $1,403,400
FAUQUIER VA $729,750 $934,200 $1,129,250 $1,403,400
FREDERICKSBURG VA $729,750 $934,200 $1,129,250 $1,403,400
LOUDOUN VA $729,750 $934,200 $1,129,250 $1,403,400
MANASSAS VA $729,750 $934,200 $1,129,250 $1,403,400
MANASSAS PARK VA $729,750 $934,200 $1,129,250 $1,403,400
PRINCE WILLIAM VA $729,750 $934,200 $1,129,250 $1,403,400
SPOTSYLVANIA VA $729,750 $934,200 $1,129,250 $1,403,400
STAFFORD VA $729,750 $934,200 $1,129,250 $1,403,400
WARREN VA $729,750 $934,200 $1,129,250 $1,403,400
           
LAMOILLE VT $276,000 $353,300 $427,100 $530,750
BENNINGTON VT $277,150 $354,800 $428,850 $532,950
ORANGE VT $281,250 $360,050 $435,200 $540,850
WINDSOR VT $281,250 $360,050 $435,200 $540,850
CHITTENDEN VT $318,750 $408,050 $493,250 $613,000
FRANKLIN VT $318,750 $408,050 $493,250 $613,000
GRAND ISLE VT $318,750 $408,050 $493,250 $613,000
           
BENTON WA $275,000 $352,050 $425,550 $528,850
FRANKLIN WA $275,000 $352,050 $425,550 $528,850
MASON WA $310,000 $396,850 $479,700 $596,150
KITTITAS WA $328,750 $420,850 $508,700 $632,200
CHELAN WA $342,700 $438,700 $530,300 $659,050
DOUGLAS WA $342,700 $438,700 $530,300 $659,050
THURSTON WA $361,250 $462,450 $559,000 $694,700
SKAGIT WA $373,750 $478,450 $578,350 $718,750
WHATCOM WA $375,000 $480,050 $580,300 $721,150
ISLAND WA $381,250 $488,050 $589,950 $733,150
CLALLAM WA $383,750 $491,250 $593,800 $738,000
CLARK WA $418,750 $536,050 $648,000 $805,300
SKAMANIA WA $418,750 $536,050 $648,000 $805,300
JEFFERSON WA $437,500 $560,050 $677,000 $841,350
KITSAP WA $475,000 $608,100 $735,050 $913,450
KING WA $567,500 $726,500 $878,150 $1,091,350
PIERCE WA $567,500 $726,500 $878,150 $1,091,350
SNOHOMISH WA $567,500 $726,500 $878,150 $1,091,350
SAN JUAN WA $593,750 $760,100 $918,800 $1,141,850
           
WALWORTH WI $278,750 $356,850 $431,350 $536,050
COLUMBIA WI $293,750 $376,050 $454,550 $564,900
DANE WI $293,750 $376,050 $454,550 $564,900
IOWA WI $293,750 $376,050 $454,550 $564,900
MILWAUKEE WI $315,000 $403,250 $487,450 $605,750
OZAUKEE WI $315,000 $403,250 $487,450 $605,750
WASHINGTON WI $315,000 $403,250 $487,450 $605,750
WAUKESHA WI $315,000 $403,250 $487,450 $605,750
PIERCE WI $365,000 $467,250 $564,800 $701,900
ST. CROIX WI $365,000 $467,250 $564,800 $701,900
KENOSHA WI $410,000 $524,850 $634,450 $788,450
           
BERKELEY WV $377,500 $483,250 $584,150 $725,950
MORGAN WV $377,500 $483,250 $584,150 $725,950
HAMPSHIRE WV $475,000 $608,100 $735,050 $913,450
JEFFERSON WV $729,750 $934,200 $1,129,250 $1,403,400
           
SHERIDAN WY $272,500 $348,850 $421,650 $524,050
SUBLETTE WY $298,750 $382,450 $462,300 $574,500
TETON WY $693,750 $888,100 $1,073,550 $1,334,150
           
MANUA AS $305,000 $390,450 $471,950 $586,550
           
GUAM GU $651,250 $833,700 $1,007,750 $1,252,400
           
ROTA MP $473,750 $606,500 $733,100 $911,050
NORTHERN ISLAND MP $605,000 $774,500 $936,200 $1,163,500
SAIPAN MP $610,000 $780,900 $943,950 $1,173,100
TINIAN MP $613,750 $785,700 $949,750 $1,180,300
           
AGUAS BUENAS PR $606,250 $776,100 $938,150 $1,165,900
AIBONITO PR $606,250 $776,100 $938,150 $1,165,900
ARECIBO PR $606,250 $776,100 $938,150 $1,165,900
BARCELONETA PR $606,250 $776,100 $938,150 $1,165,900
BARRANQUITAS PR $606,250 $776,100 $938,150 $1,165,900
BAYAMON PR $606,250 $776,100 $938,150 $1,165,900
CAGUAS PR $606,250 $776,100 $938,150 $1,165,900
CAMUY PR $606,250 $776,100 $938,150 $1,165,900
CANOVANAS PR $606,250 $776,100 $938,150 $1,165,900
CAROLINA PR $606,250 $776,100 $938,150 $1,165,900
CATANO PR $606,250 $776,100 $938,150 $1,165,900
CAYEY PR $606,250 $776,100 $938,150 $1,165,900
CEIBA PR $325,000 $416,050 $502,900 $625,000
CIALES PR $606,250 $776,100 $938,150 $1,165,900
CIDRA PR $606,250 $776,100 $938,150 $1,165,900
COMERIO PR $606,250 $776,100 $938,150 $1,165,900
COROZAL PR $606,250 $776,100 $938,150 $1,165,900
DORADO PR $606,250 $776,100 $938,150 $1,165,900
FAJARDO PR $325,000 $416,050 $502,900 $625,000
FLORIDA PR $606,250 $776,100 $938,150 $1,165,900
GUAYNABO PR $606,250 $776,100 $938,150 $1,165,900
GURABO PR $606,250 $776,100 $938,150 $1,165,900
HATILLO PR $606,250 $776,100 $938,150 $1,165,900
HUMACAO PR $606,250 $776,100 $938,150 $1,165,900
JUNCOS PR $606,250 $776,100 $938,150 $1,165,900
LAS PIEDRAS PR $606,250 $776,100 $938,150 $1,165,900
LOIZA PR $606,250 $776,100 $938,150 $1,165,900
LUQUILLO PR $325,000 $416,050 $502,900 $625,000
MANATI PR $606,250 $776,100 $938,150 $1,165,900
MAUNABO PR $606,250 $776,100 $938,150 $1,165,900
MOROVIS PR $606,250 $776,100 $938,150 $1,165,900
NAGUABO PR $606,250 $776,100 $938,150 $1,165,900
NARANJITO PR $606,250 $776,100 $938,150 $1,165,900
OROCOVIS PR $606,250 $776,100 $938,150 $1,165,900
QUEBRADILLAS PR $606,250 $776,100 $938,150 $1,165,900
RIO GRANDE PR $606,250 $776,100 $938,150 $1,165,900
SAN JUAN PR $606,250 $776,100 $938,150 $1,165,900
SAN LORENZO PR $606,250 $776,100 $938,150 $1,165,900
TOA ALTA PR $606,250 $776,100 $938,150 $1,165,900
TOA BAJA PR $606,250 $776,100 $938,150 $1,165,900
TRUJILLO ALTO PR $606,250 $776,100 $938,150 $1,165,900
VEGA ALTA PR $606,250 $776,100 $938,150 $1,165,900
VEGA BAJA PR $606,250 $776,100 $938,150 $1,165,900
YABUCOA PR $606,250 $776,100 $938,150 $1,165,900
           
ST. CROIX VI $327,750 $419,550 $507,150 $630,300
ST. THOMAS VI $446,200 $571,200 $690,450 $858,100
ST. JOHN,VI VI $623,300 $797,950 $964,500 $1,198,650
           
All other areas (floor):   $271,050 $347,000 $419,400 $521,250

.02 The nationwide average purchase price (for use in the housing cost/income ratio for new and existing residences) is $217,300.

SECTION 5. EFFECT ON OTHER DOCUMENTS

Rev. Proc. 2009-18 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 June 16, 2010, 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. 2009-18, with respect to bonds sold, or for mortgage credit certificates issued with respect to bond authority exchanged, before July 16, 2010, if the commitments to provide financing or issue mortgage credit certificates are made on or before August 15, 2010.

.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 June 16, 2010, 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. 2009-18 with respect to bonds sold, or for mortgage credit certificates issued with respect to bond authority exchanged, before July 16, 2010, if the commitments to provide financing or issue mortgage credit certificates are made on or before August 15, 2010.

SECTION 7. REQUEST FOR COMMENTS

The Treasury Department and the IRS are reviewing the available data sources and method used to determine the average area purchase price safe harbors listed in section 4.01 of this revenue procedure and are considering possible changes in the data used to determine these safe harbors for future years. One possible alternative method under consideration would involve the use of certain current available data from the Department of Housing and Urban Development (“HUD”) regarding county median housing purchase prices. The Treasury Department and the IRS solicit public comments generally on whether the average area purchase price safe harbors listed in section 4.01 of this revenue procedure should continue to be based on FHA loan limits or whether the data used to calculate these safe harbors should be changed in any way, such as, without limitation, a change to an alternative method using current HUD data on county median housing purchase prices.

Comments should be submitted in writing and can be e-mailed to notice.comments@irscounsel.treas.gov (include “Rev. Proc. 2010-25” in the subject line) or mailed to Office of Associate Chief Counsel (Financial Institutions & Products), Re: Rev. Proc. 2010-25, CC:FIP:B5, Room 3547, 1111 Constitution Avenue, NW, Washington, DC 20224. The due date for the public comments is September 6, 2010. Comments that are submitted will be made available to the public.

SECTION 8. 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 9. DRAFTING INFORMATION

The principal authors of this revenue procedure are David E. White and Timothy L. Jones of the Office of Associate Chief Counsel (Financial Institutions & Products). For further information regarding this revenue procedure, contact David E. White at (202) 622-3980 (not a toll-free call).


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