rp-06-17.pdf

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Part III

Administrative, Procedural, and Miscellaneous

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

Rev. Proc 2006-17

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

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

3
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

4
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

5
.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

6
Columbia, Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin
Islands, and Guam were last published in Rev. Proc. 2005-15, 2005-9 I.R.B. 638.
.12 The nationwide average purchase price limitation was last published in
section 4.02 of Rev. Proc. 2005-15. 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. 2005-
22, 2005-15 I.R.B. 886.
.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

7
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, 2006. 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, 2006.
.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

8
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

9
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. 2005-15, the issuer

10
must use the nationwide average purchase price set forth in section 4.02 of Rev. Proc.
2005-15 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. 2005-15, 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 (except for Alaska, for which a
separate safe harbor is provided for statistical areas not listed).
MSA NAME COUNTY NAME SAFE HARBOR AVERAGE PRICE

1 LIVING
UNIT
2 LIVING
UNITS
3 LIVING
UNITS
4 LIVING
UNITS

ALASKA

ANCHORAGE, AK (MSA) ANCHORAGE $335,592 $377,961 $459,276 $529,934
ANCHORAGE, AK (MSA)
MATANUSKA-
SUSIT $335,592 $377,961 $459,276 $529,934
JUNEAU, AK (MICRO) JUNEAU $386,842 $435,724 $529,408 $610,855
NON-METRO DENALI $316,137 $404,668 $489,126 $607,879
NON-METRO SITKA $431,250 $485,724 $590,132 $680,921
NON-METRO YAKUTAT CITY $316,137 $404,668 $489,126 $607,879

ARIZONA

FLAGSTAFF, AZ (MSA) COCONINO $386,250 $435,039 $528,553 $609,868
LAKE HAVASU CITY-KINGMAN, AZ (MICRO) MOHAVE $321,842 $362,500 $440,461 $508,224
PHOENIX-MESA-SCOTTSDALE, AZ (MSA) MARICOPA $335,000 $377,316 $458,421 $528,947
PHOENIX-MESA-SCOTTSDALE, AZ (MSA) PINAL $335,000 $377,316 $458,421 $528,947
PRESCOTT, AZ (MSA) YAVAPAI $333,750 $375,855 $456,711 $526,974
TUCSON, AZ (MSA) PIMA $302,895 $341,154 $414,487 $506,495

CALIFORNIA

BAKERSFIELD, CA (MSA) KERN $321,250 $361,776 $439,605 $507,237
BISHOP, CA (MICRO) INYO $411,704 $488,487 $593,553 $684,868
CHICO, CA (MSA) BUTTE $362,500 $408,289 $496,053 $572,368
CLEARLAKE, CA (MICRO) LAKE $293,750 $337,168 $407,558 $506,495

11
CRESCENT CITY, CA (MICRO) DEL NORTE $311,250 $350,526 $425,921 $506,495
EL CENTRO, CA (MSA) IMPERIAL $274,934 $337,168 $407,558 $506,495
EUREKA-ARCATA-FORTUNA, CA (MICRO) HUMBOLDT $375,000 $422,368 $513,158 $592,105
FRESNO, CA (MSA) FRESNO $346,250 $389,934 $473,816 $546,711
HANFORD-CORCORAN, CA (MSA) KINGS $312,316 $351,766 $427,379 $506,495
LOS ANGELES-LONG BEACH-GLENDALE, CA
MET LOS ANGELES $477,355 $611,117 $738,699 $918,021
MADERA, CA (MSA) MADERA $368,750 $415,329 $504,605 $582,237
MERCED, CA (MSA) MERCED $411,704 $478,684 $581,579 $671,053
MODESTO, CA (MSA) STANISLAUS $440,625 $496,283 $602,961 $695,724
NAPA, CA (MSA) NAPA $477,355 $611,117 $738,699 $918,021
NON-METRO ALPINE $411,704 $527,037 $637,046 $747,039
NON-METRO AMADOR $411,704 $506,842 $615,789 $710,526
NON-METRO CALAVERAS $411,704 $527,037 $637,046 $774,671
NON-METRO COLUSA $343,750 $387,171 $470,395 $542,763
NON-METRO GLENN $281,250 $337,168 $407,558 $506,495
NON-METRO MARIPOSA $411,704 $464,605 $564,474 $651,316
NON-METRO MONO $411,704 $527,037 $637,046 $791,700
NON-METRO PLUMAS $337,500 $380,132 $461,842 $532,895
NON-METRO SISKIYOU $293,750 $337,168 $407,558 $506,495
OAKLAND-FREMONT-HAYWARD, CA
METROPOLITA ALAMEDA $477,355 $611,117 $738,699 $918,021
OAKLAND-FREMONT-HAYWARD, CA
METROPOLITA CONTRA COSTA $477,355 $611,117 $738,699 $918,021
OXNARD-THOUSAND OAKS-VENTURA, CA (MSA) VENTURA $477,355 $611,117 $738,699 $918,021
PHOENIX LAKE-CEDAR RIDGE, CA (MICRO) TUOLUMNE $411,704 $478,684 $581,579 $671,053
RED BLUFF, CA (MICRO) TEHAMA $293,750 $337,168 $407,558 $506,495
REDDING, CA (MSA) SHASTA $363,750 $409,697 $497,763 $574,342
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (M RIVERSIDE $477,355 $545,225 $662,424 $764,334
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (M SAN BERNARDINO $477,355 $545,225 $662,424 $764,334
SACRAMENTO--ARDEN-ARCADE--ROSEVILLE,
CA EL DORADO $477,355 $587,092 $713,289 $823,026
SACRAMENTO--ARDEN-ARCADE--ROSEVILLE,
CA PLACER $477,355 $587,092 $713,289 $823,026
SACRAMENTO--ARDEN-ARCADE--ROSEVILLE,
CA SACRAMENTO $477,355 $587,092 $713,289 $823,026
SACRAMENTO--ARDEN-ARCADE--ROSEVILLE,
CA YOLO $477,355 $587,092 $713,289 $823,026
SALINAS, CA (MSA) MONTEREY $477,355 $611,117 $738,699 $918,021
SAN DIEGO-CARLSBAD-SAN MARCOS, CA (MSA) SAN DIEGO $477,355 $611,117 $738,699 $918,021
SAN FRANCISCO-SAN MATEO-REDWOOD CITY,
C MARIN $477,355 $611,117 $738,699 $918,021
SAN FRANCISCO-SAN MATEO-REDWOOD CITY,
C SAN FRANCISCO $477,355 $611,117 $738,699 $918,021
SAN FRANCISCO-SAN MATEO-REDWOOD CITY,
C SAN MATEO $477,355 $611,117 $738,699 $918,021
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (MSA SAN BENITO $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
SAN LUIS OBISPO-PASO ROBLES, CA (MSA) SAN LUIS OBISPO $477,355 $611,117 $738,699 $918,021
SANTA ANA-ANAHEIM-IRVINE, CA METROPOLIT ORANGE $477,355 $611,117 $738,699 $918,021
SANTA BARBARA-SANTA MARIA-GOLETA, CA (M SANTA BARBARA $477,355 $611,117 $738,699 $918,021
SANTA CRUZ-WATSONVILLE, CA (MSA) SANTA CRUZ $477,355 $611,117 $738,699 $918,021
SANTA ROSA-PETALUMA, CA (MSA) SONOMA $477,355 $611,117 $738,699 $918,021
STOCKTON, CA (MSA) SAN JOAQUIN $477,355 $549,079 $667,105 $769,737
TRUCKEE-GRASS VALLEY, CA (MICRO) NEVADA $411,704 $527,037 $637,046 $789,474
UKIAH, CA (MICRO) MENDOCINO $411,704 $487,105 $591,842 $682,895

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VALLEJO-FAIRFIELD, CA (MSA) SOLANO $477,355 $611,117 $738,699 $907,895
VISALIA-PORTERVILLE, CA (MSA) TULARE $285,592 $337,168 $407,558 $506,495
YUBA CITY, CA (MSA) SUTTER $396,250 $446,250 $542,237 $625,658
YUBA CITY, CA (MSA) YUBA $396,250 $446,250 $542,237 $625,658

COLORADO

BOULDER, CO (MSA) BOULDER $446,842 $503,284 $611,467 $705,539
COLORADO SPRINGS, CO (MSA) EL PASO $312,500 $351,974 $427,632 $506,495
COLORADO SPRINGS, CO (MSA) TELLER $312,500 $351,974 $427,632 $506,495
DENVER-AURORA, CO (MSA) ADAMS $344,222 $440,609 $532,532 $631,579
DENVER-AURORA, CO (MSA) ARAPAHOE $344,222 $440,609 $532,532 $631,579
DENVER-AURORA, CO (MSA) BROOMFIELD $344,222 $440,609 $532,532 $631,579
DENVER-AURORA, CO (MSA) CLEAR CREEK $344,222 $440,609 $532,532 $631,579
DENVER-AURORA, CO (MSA) DENVER $344,222 $440,609 $532,532 $631,579
DENVER-AURORA, CO (MSA) DOUGLAS $344,222 $440,609 $532,532 $631,579
DENVER-AURORA, CO (MSA) ELBERT $344,222 $440,609 $532,532 $631,579
DENVER-AURORA, CO (MSA) GILPIN $344,222 $440,609 $532,532 $631,579
DENVER-AURORA, CO (MSA) JEFFERSON $344,222 $440,609 $532,532 $631,579
DENVER-AURORA, CO (MSA) PARK $344,222 $440,609 $532,532 $631,579
DURANGO, CO (MICRO) LA PLATA $303,750 $342,118 $415,658 $506,495
EDWARDS, CO (MICRO) EAGLE $411,704 $513,882 $624,342 $720,395
EDWARDS, CO (MICRO) LAKE $411,704 $513,882 $624,342 $720,395
FORT COLLINS-LOVELAND, CO (MSA) LARIMER $292,125 $337,168 $407,558 $506,495
GREELEY, CO (MSA) WELD $312,375 $351,833 $427,461 $506,495
NON-METRO ARCHULETA $263,487 $337,168 $407,558 $506,495
NON-METRO GARFIELD $292,293 $337,168 $407,558 $506,495
NON-METRO GRAND $293,750 $337,168 $407,558 $506,495
NON-METRO PITKIN $381,999 $488,975 $591,028 $734,521
NON-METRO ROUTT $398,026 $448,301 $544,666 $628,461
NON-METRO SAN MIGUEL $344,222 $401,250 $487,500 $562,500
SILVERTHORNE, CO (MICRO) SUMMIT $380,000 $428,000 $520,000 $600,000

CONNECTICUT

BRIDGEPORT-STAMFORD-NORWALK, CT (MSA) FAIRFIELD $477,355 $611,117 $738,699 $918,021
HARTFORD-WEST HARTFORD-EAST
HARTFORD, C HARTFORD $335,000 $377,316 $458,421 $528,947
HARTFORD-WEST HARTFORD-EAST
HARTFORD, C MIDDLESEX $335,000 $377,316 $458,421 $528,947
HARTFORD-WEST HARTFORD-EAST
HARTFORD, C TOLLAND $335,000 $377,316 $458,421 $528,947
NEW HAVEN-MILFORD, CT (MSA) NEW HAVEN $385,625 $435,039 $528,553 $609,868
NORWICH-NEW LONDON, CT (MSA) NEW LONDON $368,625 $415,188 $504,434 $582,039
TORRINGTON, CT (MICRO) LITCHFIELD $375,000 $422,368 $513,158 $592,105

DISTRICT OF COLUMBIA

WASHINGTON-ARLINGTON-ALEXANDRIA, DC-
VA- DISTRICT OF COL $477,355 $611,117 $738,699 $888,158

DELAWARE

DOVER, DE (MSA) KENT $294,457 $337,168 $407,558 $506,495
SEAFORD, DE (MICRO) SUSSEX $325,000 $366,053 $444,737 $513,158
WILMINGTON, DE-MD-NJ METROPOLITAN DIVIS NEW CASTLE $356,250 $401,250 $487,500 $562,500

FLORIDA

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CAPE CORAL-FORT MYERS, FL (MSA) LEE $346,974 $390,801 $474,805 $547,853
FORT LAUDERDALE-POMPANO BEACH-
DEERFIELD BROWARD $477,355 $544,336 $661,343 $763,088
FORT WALTON BEACH-CRESTVIEW-DESTIN, FL OKALOOSA $287,375 $337,168 $407,558 $506,495
JACKSONVILLE, FL (MSA) BAKER $275,000 $337,168 $407,558 $506,495
JACKSONVILLE, FL (MSA) CLAY $275,000 $337,168 $407,558 $506,495
JACKSONVILLE, FL (MSA) DUVAL $275,000 $337,168 $407,558 $506,495
JACKSONVILLE, FL (MSA) NASSAU $275,000 $337,168 $407,558 $506,495
JACKSONVILLE, FL (MSA) ST. JOHNS $275,000 $337,168 $407,558 $506,495
KEY WEST-MARATHON, FL (MICRO) MONROE $411,704 $527,037 $637,046 $791,700
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLI DADE $477,355 $544,336 $661,343 $763,088
NAPLES-MARCO ISLAND, FL (MSA) COLLIER $460,957 $519,182 $630,782 $727,825
NON-METRO WALTON $411,704 $527,037 $637,046 $791,700
ORLANDO, FL (MSA) LAKE $326,579 $367,830 $446,897 $515,650
ORLANDO, FL (MSA) ORANGE $326,579 $367,830 $446,897 $515,650
ORLANDO, FL (MSA) OSCEOLA $326,579 $367,830 $446,897 $515,650
ORLANDO, FL (MSA) SEMINOLE $326,579 $367,830 $446,897 $515,650
PALM BAY-MELBOURNE-TITUSVILLE, FL (MSA) BREVARD $273,370 $337,168 $407,558 $506,495
PALM COAST, FL (MICRO) FLAGLER $268,750 $337,168 $407,558 $506,495
PANAMA CITY-LYNN HAVEN, FL (MSA) BAY $296,125 $337,168 $407,558 $506,495
PORT ST. LUCIE-FORT PIERCE, FL (MSA) MARTIN $311,842 $351,250 $426,776 $506,495
PORT ST. LUCIE-FORT PIERCE, FL (MSA) ST. LUCIE $311,842 $351,250 $426,776 $506,495
PUNTA GORDA, FL (MSA) CHARLOTTE $295,012 $337,168 $407,558 $506,495
SARASOTA-BRADENTON-VENICE, FL (MSA) MANATEE $442,237 $498,097 $605,166 $698,268
SARASOTA-BRADENTON-VENICE, FL (MSA) SARASOTA $442,237 $498,097 $605,166 $698,268
SEBASTIAN-VERO BEACH, FL (MSA) INDIAN RIVER $281,250 $337,168 $407,558 $506,495
TAMPA-ST. PETERSBURG-CLEARWATER, FL
(MS HERNANDO $266,842 $337,168 $407,558 $506,495
TAMPA-ST. PETERSBURG-CLEARWATER, FL
(MS HILLSBOROUGH $266,842 $337,168 $407,558 $506,495
TAMPA-ST. PETERSBURG-CLEARWATER, FL
(MS PASCO $266,842 $337,168 $407,558 $506,495
TAMPA-ST. PETERSBURG-CLEARWATER, FL
(MS PINELLAS $266,842 $337,168 $407,558 $506,495
WEST PALM BEACH-BOCA RATON-BOYNTON
BEAC PALM BEACH $477,355 $544,336 $661,343 $763,088

GEORGIA

ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA BARROW $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA BARTOW $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA BUTTS $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA CARROLL $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA CHEROKEE $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA CLAYTON $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA COBB $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA COWETA $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA DAWSON $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA DE KALB $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA DOUGLAS $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA FAYETTE $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA FORSYTH $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA FULTON $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA GWINNETT $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA HARALSON $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA HEARD $299,875 $337,754 $410,355 $506,495

14
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA HENRY $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA JASPER $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA LAMAR $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA MERIWETHER $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA NEWTON $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA PAULDING $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA PICKENS $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA PIKE $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA ROCKDALE $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA SPALDING $299,875 $337,754 $410,355 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA WALTON $299,875 $337,754 $410,355 $506,495
BRUNSWICK, GA (MSA) BRANTLEY $275,258 $337,168 $407,558 $506,495
BRUNSWICK, GA (MSA) GLYNN $275,258 $337,168 $407,558 $506,495
BRUNSWICK, GA (MSA) MCINTOSH $275,258 $337,168 $407,558 $506,495

HAWAII

HILO, HI (MICRO) HAWAII $515,592 $580,724 $705,592 $814,145
HONOLULU, HI (MSA) HONOLULU $716,033 $865,929 $1,052,063 $1,213,918
KAHULUI-WAILUKU, HI (MICRO) MAUI $617,555 $757,434 $920,263 $1,061,842
KAPAA, HI (MICRO) KAUAI $617,555 $718,026 $872,368 $1,006,579

IDAHO

JACKSON, WY-ID (MICRO) TETON $411,704 $527,037 $637,046 $791,700
NON-METRO BLAINE $411,704 $527,037 $637,046 $750,000

ILLINOIS

CHICAGO-NAPERVILLE-JOLIET, IL METROPOLI COOK $362,105 $407,845 $495,512 $571,745
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLI DEKALB $362,105 $407,845 $495,512 $571,745
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLI DUPAGE $362,105 $407,845 $495,512 $571,745
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLI GRUNDY $362,105 $407,845 $495,512 $571,745
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLI KANE $362,105 $407,845 $495,512 $571,745
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLI KENDALL $362,105 $407,845 $495,512 $571,745
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLI MCHENRY $362,105 $407,845 $495,512 $571,745
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLI WILL $362,105 $407,845 $495,512 $571,745
LAKE COUNTY-KENOSHA COUNTY, IL-WI
METRO LAKE $362,105 $407,845 $495,512 $571,745
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
ST. LOUIS, MO-IL (MSA) JERSEY $281,250 $337,168 $407,558 $506,495
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
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

INDIANA

CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) DEARBORN $300,000 $337,895 $410,526 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) FRANKLIN $300,000 $337,895 $410,526 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) OHIO $300,000 $337,895 $410,526 $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
GARY, IN METROPOLITAN DIVISION PORTER $362,105 $407,845 $495,512 $571,745

15

KANSAS

KANSAS CITY, MO-KS (MSA) FRANKLIN $265,313 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) JOHNSON $265,313 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) LEAVENWORTH $265,313 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) LINN $265,313 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) MIAMI $265,313 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) WYANDOTTE $265,313 $337,168 $407,558 $506,495

KENTUCKY

CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) BOONE $300,000 $337,895 $410,526 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) BRACKEN $300,000 $337,895 $410,526 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) CAMPBELL $300,000 $337,895 $410,526 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) GALLATIN $300,000 $337,895 $410,526 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) GRANT $300,000 $337,895 $410,526 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) KENTON $300,000 $337,895 $410,526 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) PENDLETON $300,000 $337,895 $410,526 $506,495

MAINE

PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME
( CUMBERLAND $336,875 $379,428 $460,987 $531,908
PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME
( SAGADAHOC $336,875 $379,428 $460,987 $531,908
PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME
( YORK $336,875 $379,428 $460,987 $531,908

MARYLAND

BALTIMORE-TOWSON, MD (MSA) ANNE ARUNDEL $406,250 $457,566 $555,921 $641,447
BALTIMORE-TOWSON, MD (MSA) BALTIMORE $406,250 $457,566 $555,921 $641,447
BALTIMORE-TOWSON, MD (MSA) BALTIMORE CITY $406,250 $457,566 $555,921 $641,447
BALTIMORE-TOWSON, MD (MSA) CARROLL $406,250 $457,566 $555,921 $641,447
BALTIMORE-TOWSON, MD (MSA) HARFORD $406,250 $457,566 $555,921 $641,447
BALTIMORE-TOWSON, MD (MSA) HOWARD $406,250 $457,566 $555,921 $641,447
BALTIMORE-TOWSON, MD (MSA) QUEEN ANNE'S $406,250 $457,566 $555,921 $641,447
BETHESDA-FREDERICK-GAITHERSBURG, MD
MET FREDERICK $477,355 $611,117 $738,699 $888,158
BETHESDA-FREDERICK-GAITHERSBURG, MD
MET MONTGOMERY $477,355 $611,117 $738,699 $888,158
HAGERSTOWN-MARTINSBURG, MD-WV (MSA) WASHINGTON $355,000 $399,842 $485,789 $560,526
LEXINGTON PARK, MD (MICRO) ST. MARY'S $327,500 $368,868 $448,158 $517,105
SALISBURY, MD (MSA) SOMERSET $296,250 $337,168 $407,558 $506,495
SALISBURY, MD (MSA) WICOMICO $296,250 $337,168 $407,558 $506,495
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-
VA- CALVERT $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-
VA- CHARLES $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-
VA- PRINCE GEORGE'S $477,355 $611,117 $738,699 $888,158
WILMINGTON, DE-MD-NJ METROPOLITAN DIVIS CECIL $356,250 $401,250 $487,500 $562,500

MASSACHUSETTS

BARNSTABLE TOWN, MA (MSA) BARNSTABLE $477,355 $577,237 $701,316 $809,211
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
CAMBRIDGE-NEWTON-FRAMINGHAM, MA MIDDLESEX $477,355 $606,728 $737,146 $850,554

16
METROPO
ESSEX COUNTY, MA METROPOLITAN DIVISION ESSEX $477,355 $606,728 $737,146 $850,554
NON-METRO DUKES $344,222 $440,609 $532,532 $661,829
NON-METRO NANTUCKET $344,222 $440,609 $532,532 $661,829
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-M BRISTOL $416,250 $472,891 $571,567 $710,309
SPRINGFIELD, MA (MSA) FRANKLIN $271,974 $337,168 $407,558 $506,495
SPRINGFIELD, MA (MSA) HAMPDEN $271,974 $337,168 $407,558 $506,495
SPRINGFIELD, MA (MSA) HAMPSHIRE $271,974 $337,168 $407,558 $506,495
WORCESTER, MA (MSA) WORCESTER $385,000 $488,975 $591,028 $734,521

MICHIGAN

ADRIAN, MI (MICRO) LENAWEE $297,500 $337,168 $407,558 $506,495
ANN ARBOR, MI (MSA) WASHTENAW $344,875 $388,438 $471,934 $544,539
DETROIT-LIVONIA-DEARBORN, MI METROPOLIT WAYNE $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
METROP LAPEER $297,500 $337,168 $407,558 $506,495
WARREN-TROY-FARMINGTON HILLS, MI
METROP LIVINGSTON $297,500 $337,168 $407,558 $506,495
WARREN-TROY-FARMINGTON HILLS, MI
METROP MACOMB $297,500 $337,168 $407,558 $506,495
WARREN-TROY-FARMINGTON HILLS, MI
METROP OAKLAND $297,500 $337,168 $407,558 $506,495
WARREN-TROY-FARMINGTON HILLS, MI
METROP ST. CLAIR $297,500 $337,168 $407,558 $506,495

MINNESOTA

MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI ANOKA $321,875 $362,533 $440,461 $508,224
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI CARVER $321,875 $362,533 $440,461 $508,224
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI CHISAGO $321,875 $362,533 $440,461 $508,224
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI DAKOTA $321,875 $362,533 $440,461 $508,224
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI HENNEPIN $321,875 $362,533 $440,461 $508,224
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI ISANTI $321,875 $362,533 $440,461 $508,224
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI RAMSEY $321,875 $362,533 $440,461 $508,224
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI SCOTT $321,875 $362,533 $440,461 $508,224
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI SHERBURNE $321,875 $362,533 $440,461 $508,224
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI WASHINGTON $321,875 $362,533 $440,461 $508,224
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI WRIGHT $321,875 $362,533 $440,461 $508,224

MISSOURI

KANSAS CITY, MO-KS (MSA) BATES $265,313 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) CALDWELL $265,313 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) CASS $265,313 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) CLAY $265,313 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) CLINTON $265,313 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) JACKSON $265,313 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) LAFAYETTE $265,313 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) PLATTE $265,313 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) RAY $265,313 $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
ST. LOUIS, MO-IL (MSA) JEFFERSON $281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) LINCOLN $281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) ST. CHARLES $281,250 $337,168 $407,558 $506,495

17
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

MONTANA

MISSOULA, MT (MSA) MISSOULA $290,625 $337,168 $407,558 $506,495

NEVADA

CARSON CITY, NV (MSA) CARSON CITY $398,750 $449,118 $545,658 $629,605
FERNLEY, NV (MICRO) LYON $318,618 $358,816 $435,987 $506,495
GARDNERVILLE RANCHOS, NV (MICRO) DOUGLAS $411,704 $527,037 $637,046 $748,026
LAS VEGAS-PARADISE, NV (MSA) CLARK $391,316 $440,745 $535,484 $617,866
PAHRUMP, NV (MICRO) NYE $321,842 $362,500 $440,461 $508,224
RENO-SPARKS, NV (MSA) STOREY $437,500 $492,763 $598,684 $690,789
RENO-SPARKS, NV (MSA) WASHOE $437,500 $492,763 $598,684 $690,789

NEW HAMPSHIRE

MANCHESTER-NASHUA, NH (MSA) HILLSBOROUGH $401,875 $488,975 $591,028 $734,521
ROCKINGHAM COUNTY-STRAFFORD COUNTY,
NH ROCKINGHAM $477,355 $606,728 $737,146 $850,554
ROCKINGHAM COUNTY-STRAFFORD COUNTY,
NH STRAFFORD $477,355 $606,728 $737,146 $850,554

NEW JERSEY

ALLENTOWN-BETHLEHEM-EASTON, PA-NJ
(MSA) WARREN $369,407 $459,255 $557,974 $643,816
ATLANTIC CITY, NJ (MSA) ATLANTIC $425,000 $478,684 $581,579 $671,053
CAMDEN, NJ METROPOLITAN DIVISION BURLINGTON $356,250 $401,250 $487,500 $562,500
CAMDEN, NJ METROPOLITAN DIVISION CAMDEN $356,250 $401,250 $487,500 $562,500
CAMDEN, NJ METROPOLITAN DIVISION GLOUCESTER $356,250 $401,250 $487,500 $562,500
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
EDISON, NJ METROPOLITAN DIVISION OCEAN $477,355 $611,117 $738,699 $918,021
EDISON, NJ METROPOLITAN DIVISION SOMERSET $477,355 $611,117 $738,699 $918,021
NEW YORK-WAYNE-WHITE PLAINS, NY-NJ METR BERGEN $477,355 $611,117 $738,699 $918,021
NEW YORK-WAYNE-WHITE PLAINS, NY-NJ METR HUDSON $477,355 $611,117 $738,699 $918,021
NEW YORK-WAYNE-WHITE PLAINS, NY-NJ METR PASSAIC $477,355 $611,117 $738,699 $918,021
NEWARK-UNION, NJ-PA METROPOLITAN DIVISI ESSEX $477,355 $611,117 $738,699 $918,021
NEWARK-UNION, NJ-PA METROPOLITAN DIVISI HUNTERDON $477,355 $611,117 $738,699 $918,021
NEWARK-UNION, NJ-PA METROPOLITAN DIVISI MORRIS $477,355 $611,117 $738,699 $918,021
NEWARK-UNION, NJ-PA METROPOLITAN DIVISI SUSSEX $477,355 $611,117 $738,699 $918,021
NEWARK-UNION, NJ-PA METROPOLITAN DIVISI UNION $477,355 $611,117 $738,699 $918,021
OCEAN CITY, NJ (MSA) CAPE MAY $477,355 $558,934 $679,079 $783,553
TRENTON-EWING, NJ (MSA) MERCER $439,550 $495,071 $601,489 $694,026
VINELAND-MILLVILLE-BRIDGETON, NJ (MSA) CUMBERLAND $405,000 $456,158 $554,211 $639,474
WILMINGTON, DE-MD-NJ METROPOLITAN DIVIS SALEM $356,250 $401,250 $487,500 $562,500

NEW MEXICO

LOS ALAMOS, NM (MICRO) LOS ALAMOS $318,750 $359,013 $436,184 $506,495
SANTA FE, NM (MSA) SANTA FE $381,999 $449,471 $546,086 $630,099

NEW YORK

BUFFALO-NIAGARA FALLS, NY (MSA) ERIE $275,075 $337,168 $407,558 $506,495

18
BUFFALO-NIAGARA FALLS, NY (MSA) NIAGARA $275,075 $337,168 $407,558 $506,495
KINGSTON, NY (MSA) ULSTER $324,079 $365,014 $443,476 $511,703
NASSAU-SUFFOLK, NY METROPOLITAN DIVISIO NASSAU $477,355 $611,117 $738,699 $918,021
NASSAU-SUFFOLK, NY METROPOLITAN DIVISIO SUFFOLK $477,355 $611,117 $738,699 $918,021
NEW YORK-WAYNE-WHITE PLAINS, NY-NJ METR BRONX $477,355 $611,117 $738,699 $918,021
NEW YORK-WAYNE-WHITE PLAINS, NY-NJ METR KINGS $477,355 $611,117 $738,699 $918,021
NEW YORK-WAYNE-WHITE PLAINS, NY-NJ METR NEW YORK $477,355 $611,117 $738,699 $918,021
NEW YORK-WAYNE-WHITE PLAINS, NY-NJ METR PUTNAM $477,355 $611,117 $738,699 $918,021
NEW YORK-WAYNE-WHITE PLAINS, NY-NJ METR QUEENS $477,355 $611,117 $738,699 $918,021
NEW YORK-WAYNE-WHITE PLAINS, NY-NJ METR RICHMOND $477,355 $611,117 $738,699 $918,021
NEW YORK-WAYNE-WHITE PLAINS, NY-NJ METR ROCKLAND $477,355 $611,117 $738,699 $918,021
NEW YORK-WAYNE-WHITE PLAINS, NY-NJ METR WESTCHESTER $477,355 $611,117 $738,699 $918,021
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY
(M DUTCHESS $406,250 $457,566 $555,921 $641,447
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY
(M ORANGE $406,250 $457,566 $555,921 $641,447
ROCHESTER, NY (MSA) LIVINGSTON $265,000 $337,168 $407,558 $506,495
ROCHESTER, NY (MSA) MONROE $265,000 $337,168 $407,558 $506,495
ROCHESTER, NY (MSA) ONTARIO $265,000 $337,168 $407,558 $506,495
ROCHESTER, NY (MSA) ORLEANS $265,000 $337,168 $407,558 $506,495
ROCHESTER, NY (MSA) WAYNE $265,000 $337,168 $407,558 $506,495
SYRACUSE, NY (MSA) MADISON $267,500 $337,168 $407,558 $506,495
SYRACUSE, NY (MSA) ONONDAGA $267,500 $337,168 $407,558 $506,495
SYRACUSE, NY (MSA) OSWEGO $267,500 $337,168 $407,558 $506,495

NORTH CAROLINA

JACKSONVILLE, NC (MSA) ONSLOW $306,250 $344,934 $419,079 $506,495
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS,
VA CURRITUCK $375,122 $422,507 $513,325 $592,299
WILMINGTON, NC (MSA) BRUNSWICK $274,934 $337,168 $407,558 $506,495
WILMINGTON, NC (MSA) NEW HANOVER $274,934 $337,168 $407,558 $506,495
WILMINGTON, NC (MSA) PENDER $274,934 $337,168 $407,558 $506,495

OHIO

AKRON, OH (MSA) PORTAGE $318,750 $359,013 $436,184 $506,495
AKRON, OH (MSA) SUMMIT $318,750 $359,013 $436,184 $506,495
ASHTABULA, OH (MICRO) ASHTABULA $290,797 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) BROWN $300,000 $337,895 $410,526 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) BUTLER $300,000 $337,895 $410,526 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) CLERMONT $300,000 $337,895 $410,526 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) HAMILTON $300,000 $337,895 $410,526 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) WARREN $300,000 $337,895 $410,526 $506,495
CLEVELAND-ELYRIA-MENTOR, OH (MSA) CUYAHOGA $290,797 $337,168 $407,558 $506,495
CLEVELAND-ELYRIA-MENTOR, OH (MSA) GEAUGA $290,797 $337,168 $407,558 $506,495
CLEVELAND-ELYRIA-MENTOR, OH (MSA) LAKE $290,797 $337,168 $407,558 $506,495
CLEVELAND-ELYRIA-MENTOR, OH (MSA) LORAIN $290,797 $337,168 $407,558 $506,495
CLEVELAND-ELYRIA-MENTOR, OH (MSA) MEDINA $290,797 $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
COLUMBUS, OH (MSA) LICKING $307,500 $346,342 $420,789 $506,495
COLUMBUS, OH (MSA) MADISON $307,500 $346,342 $420,789 $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

19
COLUMBUS, OH (MSA) UNION $307,500 $346,342 $420,789 $506,495
DAYTON, OH (MSA) GREENE $271,250 $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
DAYTON, OH (MSA) PREBLE $271,250 $337,168 $407,558 $506,495

OREGON

ASTORIA, OR (MICRO) CLATSOP $287,500 $337,168 $407,558 $506,495
BEND, OR (MSA) DESCHUTES $334,375 $376,612 $457,566 $527,961
CORVALLIS, OR (MSA) BENTON $307,500 $346,342 $420,789 $506,495
EUGENE-SPRINGFIELD, OR (MSA) LANE $270,000 $337,168 $407,558 $506,495
GRANTS PASS, OR (MICRO) JOSEPHINE $306,250 $344,934 $419,079 $506,495
MEDFORD, OR (MSA) JACKSON $343,092 $386,447 $469,539 $541,776
PORTLAND-VANCOUVER-BEAVERTON, OR-WA
(MS CLACKAMAS $374,474 $421,776 $512,434 $591,316
PORTLAND-VANCOUVER-BEAVERTON, OR-WA
(MS COLUMBIA $374,474 $421,776 $512,434 $591,316
PORTLAND-VANCOUVER-BEAVERTON, OR-WA
(MS MULTNOMAH $374,474 $421,776 $512,434 $591,316
PORTLAND-VANCOUVER-BEAVERTON, OR-WA
(MS WASHINGTON $374,474 $421,776 $512,434 $591,316
PORTLAND-VANCOUVER-BEAVERTON, OR-WA
(MS YAMHILL $374,474 $421,776 $512,434 $591,316

PENNSYLVANIA

ALLENTOWN-BETHLEHEM-EASTON, PA-NJ
(MSA) CARBON $369,407 $459,255 $557,974 $643,816
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ
(MSA) LEHIGH $369,407 $459,255 $557,974 $643,816
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ
(MSA) NORTHAMPTON $369,407 $459,255 $557,974 $643,816
NEWARK-UNION, NJ-PA METROPOLITAN DIVISI PIKE $477,355 $611,117 $738,699 $918,021
PHILADELPHIA, PA METROPOLITAN DIVISION BUCKS $356,250 $401,250 $487,500 $562,500
PHILADELPHIA, PA METROPOLITAN DIVISION CHESTER $356,250 $401,250 $487,500 $562,500
PHILADELPHIA, PA METROPOLITAN DIVISION DELAWARE $356,250 $401,250 $487,500 $562,500
PHILADELPHIA, PA METROPOLITAN DIVISION MONTGOMERY $356,250 $401,250 $487,500 $562,500
PHILADELPHIA, PA METROPOLITAN DIVISION PHILADELPHIA $356,250 $401,250 $487,500 $562,500
PITTSBURGH, PA (MSA) ALLEGHENY $320,000 $360,421 $437,895 $506,495
PITTSBURGH, PA (MSA) ARMSTRONG $320,000 $360,421 $437,895 $506,495
PITTSBURGH, PA (MSA) BEAVER $320,000 $360,421 $437,895 $506,495
PITTSBURGH, PA (MSA) BUTLER $320,000 $360,421 $437,895 $506,495
PITTSBURGH, PA (MSA) FAYETTE $320,000 $360,421 $437,895 $506,495
PITTSBURGH, PA (MSA) WASHINGTON $320,000 $360,421 $437,895 $506,495
PITTSBURGH, PA (MSA) WESTMORELAND $320,000 $360,421 $437,895 $506,495
READING, PA (MSA) BERKS $281,250 $337,168 $407,558 $506,495
YORK-HANOVER, PA (MSA) YORK $375,000 $422,368 $513,158 $592,105

PUERTO RICO

FAJARDO, PR (MSA) CEIBA $325,000 $366,053 $444,737 $513,158
FAJARDO, PR (MSA) FAJARDO $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) 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

20
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
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
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
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

RHODE ISLAND

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-M BRISTOL $416,250 $472,891 $571,567 $710,309
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-M KENT $416,250 $472,891 $571,567 $710,309
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-M NEWPORT $416,250 $472,891 $571,567 $710,309
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-M PROVIDENCE $416,250 $472,891 $571,567 $710,309
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-M WASHINGTON $416,250 $472,891 $571,567 $710,309

SOUTH CAROLINA

CHARLESTON-NORTH CHARLESTON, SC (MSA) BERKELEY $331,250 $373,092 $453,289 $523,026
CHARLESTON-NORTH CHARLESTON, SC (MSA) CHARLESTON $331,250 $373,092 $453,289 $523,026
CHARLESTON-NORTH CHARLESTON, SC (MSA) DORCHESTER $331,250 $373,092 $453,289 $523,026

TENNESSEE

NASHVILLE-DAVIDSON--MURFREESBORO, TN
(M CANNON $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN CHEATHAM $297,500 $337,168 $407,558 $506,495

21
(M
NASHVILLE-DAVIDSON--MURFREESBORO, TN
(M DAVIDSON $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN
(M DICKSON $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN
(M HICKMAN $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN
(M MACON $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN
(M ROBERTSON $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN
(M RUTHERFORD $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN
(M SMITH $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN
(M SUMNER $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN
(M TROUSDALE $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN
(M WILLIAMSON $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON--MURFREESBORO, TN
(M WILSON $297,500 $337,168 $407,558 $506,495

UTAH

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
ST. GEORGE, UT (MSA) WASHINGTON $300,000 $337,895 $410,526 $506,495

VERMONT

BURLINGTON-SOUTH BURLINGTON, VT (MSA) CHITTENDEN $313,125 $352,678 $428,487 $506,495
BURLINGTON-SOUTH BURLINGTON, VT (MSA) FRANKLIN $313,125 $352,678 $428,487 $506,495
BURLINGTON-SOUTH BURLINGTON, VT (MSA) GRAND ISLE $313,125 $352,678 $428,487 $506,495

VIRGIN ISLANDS

NON-METRO ST. CROIX $287,500 $337,168 $407,558 $506,495
NON-METRO ST. THOMAS $318,750 $359,013 $436,184 $506,495

VIRGINIA

CHARLOTTESVILLE, VA (MSA) ALBEMARLE $343,750 $387,171 $470,395 $542,763
CHARLOTTESVILLE, VA (MSA) CHARLOTTESVILLE $343,750 $387,171 $470,395 $542,763
CHARLOTTESVILLE, VA (MSA) FLUVANNA $343,750 $387,171 $470,395 $542,763
CHARLOTTESVILLE, VA (MSA) GREENE $343,750 $387,171 $470,395 $542,763
CHARLOTTESVILLE, VA (MSA) NELSON $343,750 $387,171 $470,395 $542,763
NON-METRO CULPEPER $381,999 $448,442 $544,837 $628,658
NON-METRO KING GEORGE $381,999 $448,442 $544,837 $628,658
RICHMOND, VA (MSA) AMELIA $311,875 $351,270 $426,776 $506,495
RICHMOND, VA (MSA) CAROLINE $311,875 $351,270 $426,776 $506,495
RICHMOND, VA (MSA) CHARLES CITY $311,875 $351,270 $426,776 $506,495
RICHMOND, VA (MSA) CHESTERFIELD $311,875 $351,270 $426,776 $506,495
RICHMOND, VA (MSA) COLONIAL HEIGHT $311,875 $351,270 $426,776 $506,495
RICHMOND, VA (MSA) CUMBERLAND $311,875 $351,270 $426,776 $506,495
RICHMOND, VA (MSA) DINWIDDIE $311,875 $351,270 $426,776 $506,495
RICHMOND, VA (MSA) GOOCHLAND $311,875 $351,270 $426,776 $506,495
RICHMOND, VA (MSA) HANOVER $311,875 $351,270 $426,776 $506,495

22
RICHMOND, VA (MSA) HENRICO $311,875 $351,270 $426,776 $506,495
RICHMOND, VA (MSA) HOPEWELL $311,875 $351,270 $426,776 $506,495
RICHMOND, VA (MSA) KING AND QUEEN $311,875 $351,270 $426,776 $506,495
RICHMOND, VA (MSA) KING WILLIAM $311,875 $351,270 $426,776 $506,495
RICHMOND, VA (MSA) LOUISA $311,875 $351,270 $426,776 $506,495
RICHMOND, VA (MSA) NEW KENT $311,875 $351,270 $426,776 $506,495
RICHMOND, VA (MSA) PETERSBURG $311,875 $351,270 $426,776 $506,495
RICHMOND, VA (MSA) POWHATAN $311,875 $351,270 $426,776 $506,495
RICHMOND, VA (MSA) PRINCE GEORGE $311,875 $351,270 $426,776 $506,495
RICHMOND, VA (MSA) RICHMOND IND $311,875 $351,270 $426,776 $506,495
RICHMOND, VA (MSA) SUSSEX $311,875 $351,270 $426,776 $506,495
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS,
VA CHESAPEAKE $375,122 $422,507 $513,325 $592,299
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS,
VA GLOUCESTER $375,122 $422,507 $513,325 $592,299
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS,
VA HAMPTON $375,122 $422,507 $513,325 $592,299
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS,
VA ISLE OF WIGHT $375,122 $422,507 $513,325 $592,299
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS,
VA JAMES CITY $375,122 $422,507 $513,325 $592,299
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS,
VA MATHEWS $375,122 $422,507 $513,325 $592,299
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS,
VA NEWPORT NEWS $375,122 $422,507 $513,325 $592,299
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS,
VA NORFOLK $375,122 $422,507 $513,325 $592,299
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS,
VA POQUOSON $375,122 $422,507 $513,325 $592,299
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS,
VA PORTSMOUTH $375,122 $422,507 $513,325 $592,299
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS,
VA SUFFOLK $375,122 $422,507 $513,325 $592,299
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS,
VA SURRY $375,122 $422,507 $513,325 $592,299
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS,
VA VIRGINIA BEACH $375,122 $422,507 $513,325 $592,299
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS,
VA WILLIAMSBURG $375,122 $422,507 $513,325 $592,299
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS,
VA YORK $375,122 $422,507 $513,325 $592,299
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-
VA- ALEXANDRIA $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-
VA- ARLINGTON $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-
VA- CLARKE $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-
VA- FAIRFAX $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-
VA- FAIRFAX IND $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-
VA- FALLS CHURCH $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-
VA- FAUQUIER $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-
VA- FREDERICKSBURG $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-
VA- LOUDOUN $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-
VA- MANASSAS $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-MANASSAS PARK $477,355 $611,117 $738,699 $888,158

23
VA-
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-
VA- PRINCE WILLIAM $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-
VA- SPOTSYLVANIA $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-
VA- STAFFORD $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-
VA- WARREN $477,355 $611,117 $738,699 $888,158
WINCHESTER, VA-WV (MSA) FREDERICK $333,316 $375,418 $456,116 $526,287
WINCHESTER, VA-WV (MSA) WINCHESTER $333,316 $375,418 $456,116 $526,287

WASHINGTON

BELLINGHAM, WA (MSA) WHATCOM $323,158 $364,013 $442,237 $510,263
BREMERTON-SILVERDALE, WA (MSA) KITSAP $343,750 $387,171 $470,395 $542,763
MOUNT VERNON-ANACORTES, WA (MSA) SKAGIT $320,000 $360,421 $437,895 $506,495
NON-METRO JEFFERSON $362,500 $408,289 $496,053 $572,368
NON-METRO SAN JUAN $411,704 $520,263 $632,105 $729,408
OAK HARBOR, WA (MICRO) ISLAND $366,842 $413,179 $502,039 $579,276
OLYMPIA, WA (MSA) THURSTON $283,750 $337,168 $407,558 $506,495
PORTLAND-VANCOUVER-BEAVERTON, OR-WA
(MS CLARK $374,474 $421,776 $512,434 $591,316
PORTLAND-VANCOUVER-BEAVERTON, OR-WA
(MS SKAMANIA $374,474 $421,776 $512,434 $591,316
SEATTLE-BELLEVUE-EVERETT, WA
METROPOLIT KING $411,704 $487,105 $591,776 $682,829
SEATTLE-BELLEVUE-EVERETT, WA
METROPOLIT SNOHOMISH $411,704 $487,105 $591,776 $682,829
TACOMA, WA METROPOLITAN DIVISION PIERCE $411,704 $487,105 $591,776 $682,829

WEST VIRGINIA

HAGERSTOWN-MARTINSBURG, MD-WV (MSA) BERKELEY $355,000 $399,842 $485,789 $560,526
HAGERSTOWN-MARTINSBURG, MD-WV (MSA) MORGAN $355,000 $399,842 $485,789 $560,526
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-
VA- JEFFERSON $477,355 $611,117 $738,699 $888,158
WINCHESTER, VA-WV (MSA) HAMPSHIRE $333,316 $375,418 $456,116 $526,287

WISCONSIN

LAKE COUNTY-KENOSHA COUNTY, IL-WI
METRO KENOSHA $362,105 $407,845 $495,512 $571,745
MADISON, WI (MSA) COLUMBIA $278,553 $337,168 $407,558 $506,495
MADISON, WI (MSA) DANE $278,553 $337,168 $407,558 $506,495
MADISON, WI (MSA) IOWA $278,553 $337,168 $407,558 $506,495
MILWAUKEE-WAUKESHA-WEST ALLIS, WI (MSA) MILWAUKEE $274,605 $337,168 $407,558 $506,495
MILWAUKEE-WAUKESHA-WEST ALLIS, WI (MSA) OZAUKEE $274,605 $337,168 $407,558 $506,495
MILWAUKEE-WAUKESHA-WEST ALLIS, WI (MSA) WASHINGTON $274,605 $337,168 $407,558 $506,495
MILWAUKEE-WAUKESHA-WEST ALLIS, WI (MSA) WAUKESHA $274,605 $337,168 $407,558 $506,495
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI PIERCE $321,875 $362,533 $440,461 $508,224
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI ST. CROIX $321,875 $362,533 $440,461 $508,224

WYOMING

JACKSON, WY-ID (MICRO) TETON $411,704 $527,037 $637,046 $791,700

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

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.02 The nationwide average purchase price (for use in the housing cost/income
ratio for new and existing residences) is $258,700.
SECTION 5. EFFECT ON OTHER DOCUMENTS
Rev. Proc. 2005-15 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 17, 2006, 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. 2005-15,
with respect to bonds sold, or for mortgage credit certificates issued with respect to
bond authority exchanged, before April 16, 2006, if the commitments to provide
financing or issue mortgage credit certificates are made on or before May 16, 2006.
.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

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on March 17, 2006, 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. 2005-
15 with respect to bonds sold, or for mortgage credit certificates issued with respect to
bond authority exchanged, before April 16, 2006, if the commitments to provide
financing or issue mortgage credit certificates are made on or before May 16, 2006.
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.

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