September 24, 2020 at 1:29 pm #72003
I’m a non-priority member looking to buy in Nassau County. I am having some difficulty finding areas that qualify due to the high taxes.
Is there anyone out there who can guide me a bit by suggesting some Nassau County areas where they were able to successfully buy a home through NACA?
Thanks in advance!September 24, 2020 at 1:48 pm #72004
The taxes shouldn’t factor into it…a targeted area is simply one where the median income is lower than that of the MSA…September 24, 2020 at 1:56 pm #72005
Thank you for the clarification! Also- I noticed that there’s a blanket 2019 FFEIC median income of $124,000 on the website, no matter what census tract you select, which is weird since there are very affluent areas of Nassau that are over that median income, is there a reason for that?
Anyone have any success as a non-priority member in Nassau? What areas were you able to identify clusters of qualified homes? I’m finding that even in certain towns, one house qualifies but another a few streets away doesn’t.September 24, 2020 at 2:16 pm #72006
Well let’s get one thing straight if you are non-priority then you are ineligible to purchase in any area above the MSA median income so you can cross all of that off your list and not worry about it.
Priority member = income is 100% or less of the MSA median and can purchase anywhere in the MSA
Non-priority member = income is 100.01% or more than the MSA median income and is limited to targeted areas
Targeted area = neighborhood (maybe several within a zipcode) that has a median income of 99.99% or less than the MSA median income. My guess is that house a few streets away while containing no physical boundaries is officially in a different neighborhood.
Hopefully this helps.
September 24, 2020 at 2:21 pm #72008
- This reply was modified 2 months ago by Nelsont.
It does, thanks. I was just using the above-MSA as an example- what I was asking is if that’s normal for there to be one median income listed across the entire area.
What I’m ultimately looking for then is targeted areas, since I’m having trouble identifying a few to hone in on.September 24, 2020 at 2:29 pm #72009
Don’t think I’ve seen that. Make sure you are looking at the 3rd line down.
2nd line is the MSA income which definitely should be the same all around.
3rd line is “Estimated Tract Median Family Income”. This is the income figure you want to look at along with:
5th line is “Tract Median Family Income %” this is what determines targeted area. 99.99% equals a targeted area.
Also use the 2020 numbers. They went into effect about a month ago.October 5, 2020 at 8:53 pm #72160caycolonMember
Hi @arrak888, I too am looking in Nassau County. I saw that column with the $124,000 amount and thought that amount was the threshold for determining priority vs non-priority but I guess I’m misunderstanding.
Yes, I agree…like you said, “one house qualifies but another a few streets away doesn’t”. You have to comb through the houses. Maybe a realtor familiar with NACA could be useful in your search.
Also, @nelsont I need clarity on which year we are using 2019 or 2020 numbers, because my realtor told me last week that NACA reverted back to the 2019 numbers.
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