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Insurance Corporation

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Inactive Financial Institution Letters 

Community Reinvestment Act

April 10, 1997


SUBJECT: HUD's 1997 Adjusted Median Family Income Figures

In response to requests from financial institutions, attached is a listing of 1997 median family income figures developed by the Department of Housing and Urban Development (HUD) for each metropolitan statistical area (MSA) and the statewide portions of nonmetropolitan areas.

The FDIC and the other Federal financial supervisory agencies use median family income figures to classify the income levels of borrowers in Community Reinvestment Act (CRA) evaluations. HUD's annually adjusted figures provide a viable measuring standard for assessing an institution's level of lending based upon borrower income. CRA regulations classify income level as low, moderate, middle, or upper based on the area median income. Area median income is defined as:

    the median family income for the MSA if a person or geographic area is located within an MSA, or

    the statewide nonmetropolitan median family income if a person or geographic area is located outside an MSA (12 CFR 345.12(b)).

The attached listing shows for each MSA the median family income figure established by the 1990 U.S. Census and HUD's estimated median family income figure adjusted for 1997. The last two pages of the listing show the 1990 U.S. Census figures and 1997 HUD figures for the nonmetropolitan portions of each state (including all areas within the state that are outside an MSA).

For further information about these income figures or other CRA issues, please contact your regional office of the FDIC's Division of Compliance and Consumer Affairs shown on the attached address list.

Carmen J. Sullivan


Distribution: FDIC-Supervised Banks (Commercial and Savings)

Note: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th St., N.W., Room 100, Washington, D.C. 20434 (800-276-6003 or (703) 562-2200).

Last Updated 07/16/1999

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