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).

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 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. 2004–18, the issuer must use the nationwide average pur

Area Name 1 Family 2 Family 3 Family 4 Family

ALASKA ANCHORAGE, AK (MSA) 301,250 339,303 412,237 475,658 DENALI BOROUGH, AK 316,137 404,668 489,126 607,879 JUNEAU CITY and BOROUGH, AK 289,342 325,921 395,987 456,908 YAKUTAT CITY AND BOROUGH, AK 316,137 404,668 489,126 607,879 All other areas in Alaska 250,000 290,779 351,474 436,800

ARIZONA FLAGSTAFF, AZ (MSA) 268,750 302,697 367,763 436,800 MOHAVE COUNTY, AZ 321,842 362,500 440,461 508,224

CALIFORNIA AMADOR COUNTY, CA 320,000 360,421 437,895 505,263 BAKERSFIELD, CA (MSA) 237,375 290,779 351,474 436,800 INYO COUNTY, CA 381,999 436,447 530,263 611,842 CALVERAS COUNTY, CA 350,000 394,211 478,947 552,632 CHICO, CA (MSA) 310,000 349,158 424,211 489,474 HUMBOLDT COUNTY, CA 294,342 331,521 402,829 464,803 FRESNO, CA (MSA) 295,000 332,263 403,684 465,789 LOS ANGELES-LONG BEACH-SANTA ANA, CA (MSA) 411,704 527,037 637,046 791,700 MADERA, CA (MSA) 268,750 302,697 367,763 436,800 MARIPOSA COUNTY, CA 246,842 290,779 351,474 436,800 MERCED, CA (MSA) 312,500 351,974 427,632 493,421 MODESTO, CA (MSA) 362,500 408,289 496,053 572,368 MONO COUNTY, CA 381,999 488,975 591,028 734,521 NAPA, CA (MSA) 411,704 527,037 637,046 791,700 OXNARD-THOUSAND OAKS-VENTURA, CA (MSA) 411,704 527,037 637,046 791,700 TUOLUMNE COUNTY, CA 326,842 368,158 447,303 516,118 REDDING, CA (MSA) 293,750 330,855 401,974 463,816 RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (MSA) 389,605 438,818 533,143 615,166 SACRAMENTO-ARDEN-ARCADE-ROSEVILLE, CA (MSA) 411,704 488,580 591,028 700,658 SALINAS, CA (MSA) 411,704 527,037 637,046 791,700 SAN DIEGO-CARLSBAD-SAN MARCOS, CA (MSA) 411,704 527,037 637,046 791,700

2005–9 I.R.B. 640 February 28, 2005

Area Name 1 Family 2 Family 3 Family 4 Family

SAN FRANCISCO-OAKLAND-FREMONT, CA (MSA) 411,704 527,037 637,046 791,700 SAN JOSE-SUNNYVALE-SANTA CLARA, CA (MSA) 411,704 527,037 637,046 791,700 SAN LUIS OBISPO-PASO ROBLES, CA (MSA) 411,704 527,037 637,046 791,700 SANTA BARBARA-SANTA MARIA-GOLETA, CA (MSA) 411,704 527,037 637,046 791,700 SANTA CRUZ-WATSONVILLE, CA (MSA) 411,704 527,037 637,046 791,700 SANTA ROSA-PETALUMA, CA (MSA) 411,704 527,037 637,046 791,700 STOCKTON, CA (MSA) 399,938 450,457 547,283 631,480 NEVADA COUNTY, CA 381,999 475,868 578,158 667,105 MENDOCINO COUNTY, CA 373,750 420,961 511,447 590,132 VALLEJO-FAIRFIELD, CA (MSA) 411,704 520,921 632,895 730,263 VISALIA-PORTERVILLE, CA (MSA) 233,125 290,779 351,474 436,800 YUBA CITY, CA (MSA) 330,000 371,684 451,579 521,053

COLORADO ARCHULETA COUNTY, CO 263,487 296,768 360,561 436,800 BOULDER, CO (MSA) 381,999 471,645 573,026 661,184 COLORADO SPRINGS, CO (MSA) 272,103 306,472 372,350 436,800 DENVER-AURORA, CO (MSA) 344,222 440,609 532,532 631,579 LA PLATA COUNTY, CO 303,750 342,118 415,658 479,605 EAGLE COUNTY, CO 344,222 440,609 532,532 661,829 LAKE COUNTY, CO 344,222 440,609 532,532 661,829 FORT COLLINS-LOVELAND, CO (MSA) 280,000 315,368 383,158 442,105 GARFIELD COUNTY, CO 292,293 329,214 399,980 461,517 GRAND COUNTY, CO 293,750 330,855 401,974 463,816 GREELEY, CO (MSA) 286,875 323,112 392,566 452,961 GUNNISON COUNTY, CO 259,938 292,772 355,704 436,800 OURAY COUNTY, CO 262,500 295,658 359,211 436,800 PITKIN COUNTY, CO 381,999 488,975 591,028 734,521 ROUTT COUNTY, CO 270,000 304,105 369,474 436,800 SAN MIGUEL COUNTY, CO 344,222 401,250 487,500 562,500 SUMMIT COUNTY, CO 380,000 428,000 520,000 600,000

CONNECTICUT BRIDGEPORT-STAMFORD-NORWALK, CT (MSA) 411,704 527,037 637,046 791,700 HARTFORD-WEST HARTFORD-EAST HARTFORD, CT (MSA) 335,000 377,316 458,421 528,947 NEW HAVEN-MILFORD, CT (MSA) 381,999 435,039 528,553 609,868 NORWICH-NEW LONDON, CT (MSA) 293,750 330,855 401,974 463,816 LITCHFIELD COUNTY, CT 255,000 290,779 351,474 436,800

DISTRICT OF COLUMBIA WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV (MSA) 411,704 516,697 627,763 724,342

DELAWARE DOVER, DE (MSA) 246,875 290,779 351,474 436,800 PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD (MSA) 312,500 351,974 427,632 493,421

FLORIDA CAPE CORAL-FORT MYERS, FL (MSA) 248,750 290,779 351,474 436,800 JACKSONVILLE, FL (MSA) 275,000 309,737 376,316 436,800 MONROE COUNTY, FL 381,999 488,975 591,028 734,521 MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL (MSA) 368,421 414,958 504,154 581,717 NAPLES-MARCO ISLAND, FL (MSA) 393,750 443,487 538,816 621,711 ORLANDO, FL (MSA) 235,000 290,779 351,474 436,800 PORT ST. LUCIE-FORT PIERCE, FL (MSA) 311,842 351,250 426,776 492,434 SARASOTA-BRADENTON-VENICE, FL (MSA) 338,026 380,724 462,562 533,725

GEORGIA ATHENS-CLARKE COUNTY, GA (MSA) 232,375 290,779 351,474 436,800 ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) 299,875 337,754 410,355 473,487 BRUNSWICK, GA (MSA) 232,375 290,779 351,474 436,800

February 28, 2005 641 2005–9 I.R.B.

Area Name 1 Family 2 Family 3 Family 4 Family

HAWAII HAWAII COUNTY, HI 278,750 313,961 381,447 440,132 HONOLULU, HI (MSA) 617,558 695,564 845,079 975,091 MAUI COUNTY, HI 381,250 429,408 521,711 601,974 KALAWAO COUNTY, HI 239,400 306,379 370,326 460,232 KAUAI COUNTY, HI 531,250 598,355 726,974 838,816

IDAHO BLAIN COUNTY, ID 336,250 378,724 460,132 530,921 TETON COUNTY, ID 369,407 438,453 532,699 614,653

ILLINOIS CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI (MSA) 362,105 407,845 495,512 571,745 ST. LOUIS, MO-IL (MSA) 281,250 316,776 384,868 444,079

INDIANA CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) 235,646 290,779 351,474 436,800 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI (MSA) 362,105 407,845 495,512 571,745 INDIANAPOLIS, IN (MSA) 231,250 290,779 351,474 436,800 LOUISVILLE, KY-IN (MSA) 237,375 290,779 351,474 436,800 SCOTT COUNTY, IN 237,375 290,779 351,474 436,800

KANSAS KANSAS CITY, MO-KS (MSA) 265,313 298,826 363,059 436,800

KENTUCKY CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) 235,646 290,779 351,474 436,800 LOUISVILLE, KY-IN (MSA) 237,375 290,779 351,474 436,800

MARYLAND BALTIMORE-TOWSON, MD (MSA) 344,222 389,557 473,292 546,107 HAGERSTOWN-MARTINSBURG, MD-WV (MSA) 355,000 399,842 485,789 560,526 WASHINGTON COUNTY, MD 268,750 302,697 367,763 436,800 WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV (MSA) 411,704 516,697 627,763 724,342 PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD (MSA) 312,500 351,974 427,632 493,421

MAINE PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME (MSA) 327,500 368,868 448,158 517,105

MASSACHUSETTS BARNSTABLE TOWN, MA (MSA) 411,704 527,037 637,046 761,842 BOSTON-CAMBRIDGE-QUINCY, MA-NH (MSA) 411,704 527,037 637,046 787,396 DUKES COUNTY, MA 344,222 440,609 532,532 661,829 NANTUCKET COUNTY, MA 344,222 440,609 532,532 661,829 PITTSFIELD, MA (MSA) 237,500 290,779 351,474 436,800 PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA (MSA) 369,407 472,891 571,567 710,309 SPRINGFIELD, MA (MSA) 237,500 290,779 351,474 436,800 WORCESTER, MA (MSA) 381,999 488,975 591,028 734,521

MICHIGAN LENAWEE COUNTY, MI 297,500 335,079 407,105 469,737 ANN ARBOR, MI (MSA) 297,500 335,079 407,105 469,737 DETROIT-WARREN-LIVONIA, MI (MSA) 297,500 335,079 407,105 469,737 HOLLAND-GRAND HAVEN, MI (MSA) 236,250 290,779 351,474 436,800 LANSING-EAST LANSING, MI (MSA) 250,000 290,779 351,474 436,800 MONROE, MI (MSA) 297,500 335,079 407,105 469,737

MINNESOTA MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (MSA) 306,250 344,934 419,079 483,553 ROCHESTER, MN (MSA) 238,125 290,779 351,474 436,800

MISSOURI KANSAS CITY, MO-KS (MSA) 265,313 298,826 363,059 436,800 ST. LOUIS, MO-IL (MSA) 281,250 316,776 384,868 444,079

MONTANA MISSOULA, MT (MSA) 243,750 290,779 351,474 436,800

2005–9 I.R.B. 642 February 28, 2005

Area Name 1 Family 2 Family 3 Family 4 Family

NEW HAMPSHIRE MANCHESTER-NASHUA, NH (MSA) 381,999 488,975 591,028 734,521 BOSTON-CAMBRIDGE-QUINCY, MA-NH (MSA) 411,704 527,037 637,046 787,396

NEW JERSEY ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (MSA) 369,407 459,255 557,974 643,816 ATLANTIC CITY, NJ (MSA) 306,250 344,934 419,079 483,553 PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD (MSA) 312,500 351,974 427,632 493,421 NEW YORK-NEWARK-EDISON, NY-NJ-PA (MSA) 411,704 527,037 637,046 791,700 OCEAN CITY, NJ (MSA) 411,704 483,574 587,520 677,908 TRENTON-EWING, NJ (MSA) 381,250 429,408 521,711 601,974

NEW MEXICO LOS ALAMOS COUNTY, NM 318,750 359,013 436,184 503,289 SANTA FE, NM (MSA) 381,999 449,471 546,086 630,099

NEVADA CARSON CITY, NV (MSA) 333,750 375,908 456,711 526,974 DOUGLAS COUNTY, NV 381,999 446,250 542,237 625,658 LAS VEGAS-PARADISE, NV (MSA) 353,947 398,655 484,349 558,863 LYON COUNTY, NV 237,368 290,779 351,474 436,800 NYE COUNTY, NV 321,842 362,500 440,461 508,224 RENO-SPARKS, NV (MSA) 373,947 421,182 511,717 590,442

NEW YORK BUFFALO-NIAGARA FALLS, NY (MSA) 237,500 290,779 351,474 436,800 KINGSTON, NY (MSA) 293,750 330,855 401,974 463,816 NEW YORK-NEWARK-EDISON, NY-NJ-PA (MSA) 411,704 527,037 637,046 791,700 POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (MSA) 356,250 401,250 487,500 562,500 ROCHESTER, NY (MSA) 243,750 290,779 351,474 436,800

NORTH CAROLINA CHARLOTTE-GASTONIA-CONCORD, NC-SC (MSA) 233,125 290,779 351,474 436,800 DURHAM, NC (MSA) 230,000 290,779 351,474 436,800 JACKSONVILLE, NC (MSA) 306,250 344,934 419,079 483,553 RALEIGH-CARY, NC (MSA) 231,053 290,779 351,474 436,800 VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (MSA) 375,122 422,507 513,325 592,299

OHIO AKRON, OH (MSA) 250,054 290,779 351,474 436,800 ASHTABULA COUNTY, OH 290,797 327,530 397,933 459,154 CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) 235,646 290,779 351,474 436,800 CLEVELAND-ELYRIA-MENTOR, OH (MSA) 290,797 327,530 397,933 459,154 COLUMBUS, OH (MSA) 274,738 309,441 375,957 436,800 DAYTON, OH (MSA) 239,072 290,779 351,474 436,800

OREGON BEND, OR (MSA) 285,875 321,986 391,197 451,382 CORVALLIS, OR (MSA) 292,375 329,307 400,092 461,645 EUGENE-SPRINGFIELD, OR (MSA) 227,500 290,779 351,474 436,800 JOSEPHINE COUNTY, OR 268,750 302,697 367,763 436,800 MEDFORD, OR (MSA) 312,500 351,974 427,632 493,421 PORTLAND-VANCOUVER-BEAVERTON, OR-WA (MSA) 281,250 316,776 384,868 444,079

PENNSYLVANIA ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (MSA) 369,407 459,255 557,974 643,816 NEW YORK-NEWARK-EDISON, NY-NJ-PA (MSA) 411,704 527,037 637,046 791,700 PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD (MSA) 312,500 351,974 427,632 493,421 PITTSBURGH, PA (MSA) 240,000 290,779 351,474 436,800 YORK-HANOVER, PA (MSA) 240,000 290,779 351,474 436,800

RHODE ISLAND PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA (MSA) 369,407 472,891 571,567 710,309

February 28, 2005 643 2005–9 I.R.B.

Area Name 1 Family 2 Family 3 Family 4 Family

SOUTH CAROLINA CHARLESTON-NORTH CHARLESTON, SC (MSA) 287,875 324,238 393,934 454,539 CHARLOTTE-GASTONIA-CONCORD, NC-SC (MSA) 233,125 290,779 351,474 436,800 GEORGETOWN COUNTY, SC 228,750 290,779 351,474 436,800 BEAUFORT COUNTY, SC 262,500 295,658 359,211 436,800

TENNESSEE NASHVILLE-DAVIDSON-MURFREESBORO, TN (MSA) 297,500 335,079 407,105 469,737

TEXAS AUSTIN-ROUND ROCK, TX (MSA) 233,750 290,779 351,474 436,800

UTAH WASATCH COUNTY, UT 231,250 290,779 351,474 436,800 KANE COUNTY, UT 268,750 302,697 367,763 436,800 PROVO-OREM, UT (MSA) 231,250 290,779 351,474 436,800 SALT LAKE CITY, UT (MSA) 306,250 344,934 419,079 483,553 ST. GEORGE, UT (MSA) 237,375 290,779 351,474 436,800

VERMONT BURLINGTON-SOUTH BURLINGTON, VT (MSA) 281,125 316,636 384,697 443,882

VIRGINIA CHARLOTTESVILLE, VA (MSA) 278,625 313,820 381,276 439,934 HARRISONBURG, VA (MSA) 232,500 290,779 351,474 436,800 CULPEPER COUNTY, VA 381,999 448,442 544,837 628,658 KING GEORGE COUNTY, VA 381,999 448,442 544,837 628,658 RICHMOND, VA (MSA) 281,250 316,776 384,868 444,079 VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (MSA) 375,122 422,507 513,325 592,299 WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV (MSA) 411,704 516,697 627,763 724,342 WINCHESTER, VA-WV (MSA) 312,500 351,974 427,632 493,421

WASHINGTON BELLINGHAM, WA (MSA) 265,938 299,530 363,914 436,800 BREMERTON-SILVERDALE, WA (MSA) 278,750 313,961 381,447 440,132 MOUNT VERNON-ANACORTES, WA (MSA) 256,250 290,779 351,474 436,800 JEFFERSON COUNTY, WA 236,250 290,779 351,474 436,800 SAN JUAN COUNTY, WA 381,999 479,934 583,092 672,829 ISLAND COUNTY, WA 366,842 413,179 502,039 579,276 OLYMPIA, WA (MSA) 243,625 290,779 351,474 436,800 PORTLAND-VANCOUVER-BEAVERTON, OR-WA (MSA) 281,250 316,776 384,868 444,079 SEATTLE-TACOMA-BELLEVUE, WA (MSA) 379,868 427,851 519,820 599,792

WISCONSIN CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI (MSA) 362,105 407,845 495,512 571,745 MADISON, WI (MSA) 267,368 301,141 365,872 436,800 MILWAUKEE-WAUKESHA-WEST ALLIS, WI (MSA) 256,316 290,779 351,474 436,800 MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (MSA) 306,250 344,934 419,079 483,553 RACINE, WI (MSA) 242,500 290,779 351,474 436,800

WEST VIRGINIA HAGERSTOWN-MARTINSBURG, MD-WV (MSA) 355,000 399,842 485,789 560,526 MORGANTOWN, WV (MSA) 228,125 290,779 351,474 436,800 WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV (MSA) 411,704 516,697 627,763 724,342 WINCHESTER, VA-WV (MSA) 312,500 351,974 427,632 493,421

WYOMING TETON COUNTY, WY 369,407 438,453 532,699 614,653

GUAM 237,500 290,779 351,474 436,800

PUERTO RICO FAJARDO, PR (MSA) 325,000 366,053 444,737 513,158 SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) 325,000 366,053 444,737 513,158

2005–9 I.R.B. 644 February 28, 2005

Area Name 1 Family 2 Family 3 Family 4 Family

VIRGIN ISLANDS ST. CROIX 287,500 323,816 393,421 453,947 ST. JOHN 246,447 290,779 351,474 436,800 ST. THOMAS 318,750 359,013 436,184 503,289

ALL OTHER AREAS $227,147 $290,779 $351,474 $436,800

tion 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.

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.