Resale Price Calculation
Resale Price Formula: Original purchase price + percentage change in area median income (AMI) +
City approved capital improvements.
Area Median Income percentage change by year to 2017
Year of
Purchase
% change in
AMI as of
2017
% change for
use in your
formula
20042008
2009
2010
2011
2012
2013
2014
2015
2016
2017
20.01%
18.38%
15.26%
13.05%
11.65%
13.44%
17.69%
12.75%
7.06%
0%
20.01%
18.38%
15.26%
13.05%
11.65%
13.44%
17.69%
12.75%
7.06%
0%
Resale Price Example:
Original Purchase Price: $300,000
Year of Purchase: 2005
Percentage change in AMI from 2005-2017: 20.01%
City-approved depreciated capital improvements: $10,000
$300,000 x 20.01% = $60,030
$300,000 + $60,030 + $10,000 = $370,030
Maximum Restricted Value Price = $370,030