- 2007-2011 ACS estimates of median family income calculated by the Census Bureau for HUD's Fair Market Rent and Income Limit areas are used as the basis for FY 2014.
- In areas where the 2011 5-year ACS estimate is smaller than the reported margin of error, the state non-metro estimate of median family income is used.
- In areas where there is a 2011 1-year ACS estimate of median family income that exceeds its margin of error, the 1-year ACS estimate becomes the basis for median family income.
- Once the appropriate 2011 ACS data has been selected, the data are set as of December 2012 using the December national CPI value divided by the 2011 National CPI value.
- All estimates are then trended from December 2012 to April 2014 (1 ¼ year) with a trending factor of 0.982% per year. The trend factor is calculated as the annual growth rate in the national 1-year estimate of median family income between the 2006 and 2011 American Community Surveys.

The **New York, NY HUD Metro FMR Area, **has published local area 1-year 2011 ACS Survey results.

- The following are the 2011 American Community Survey 5-year median income estimate and margin of error for
**New York, NY HUD Metro FMR Area**:Area ACS _{2011}5-Year

Median IncomeACS _{2011}5-Year

Margin of ErrorRatio Result **New York, NY HUD Metro FMR Area**$62,213 $411 $411 / $62,213

=

0.0070.007 < 1

**Use ACS**_{2011}New York, NY HUD Metro FMR Area

Median Income - Since there is an ACS
_{2011}1-year estimate available, a comparison is made in order to determine if the 1-year ACS_{2011}estimate is different from zero:Area ACS _{2011}1-Year

Median IncomeACS _{2011}1-Year

Margin of ErrorRatio Result **New York, NY HUD Metro FMR Area**$60,097 $700 $700 / $60,097

=

0.0120.012 < 1

**Update to ACS**_{2011}1-Year

Median Income - The calculation of the CPI Update Factor is as follows:
Area 2012 December CPI 2011 Annual CPI CPI Update Factor **New York, NY HUD Metro FMR Area**231.137 224.939 (231.137 / 224.939)

=**1.02755** - The FY 2014 median family income is estimated as follows:
Area ACS _{2011}1-Year EstimateCPI Update Factor Trending

0.982% for 1.25 years>FY 2014

Area MFI Estimate**New York, NY HUD Metro FMR Area**$60,097 1.02755 1.0098 ^{1.25}

=

1.01228($60,097 * 1.02755 * 1.01228)

=**$62,511** - In keeping with HUD policy, the median family income estimate is rounded to the nearest $100:
Area Unrounded

FY 2014 MFI EstimateRounded

FY 2014 MFI Estimate**New York, NY HUD Metro FMR Area**$62,511 $62,500

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