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.

procedure. Average area purchase price safe harbors are provided for single-family and two to four-family residences. For each type of residence, section 4.01 of this revenue procedure contains a single safe harbor that may be used for both new and existing residences. Issuers of qualified mortgage bonds and issuers of mortgage credit certificates may rely on these safe harbors to satisfy the requirements of sections 143(e) and (f). Section 4.01 of this revenue procedure provides safe harbors for MSAs and for certain counties and county equivalents. If no purchase price safe harbor is available for a statistical area, the safe harbor for “ALL OTHER AREAS” may be used for that statistical area.

.02 If a residence is in an MSA, the safe harbor applicable to it is the limitation of that MSA. If an MSA falls in more than one state, the MSA is listed in section 4.01 of this revenue procedure under each state.

.03 If the FHA revises the FHA loan limit for any statistical area after December 02, 2011, an issuer of qualified mortgage bonds or mortgage credit certificates may use the revised FHA loan limit for that statistical area to compute (as provided in the next sentence) a revised average area purchase price safe harbor for the statistical area provided that the issuer maintains records evidencing the revised FHA loan limit. The revised average area purchase price safe harbor for that statistical area is computed by dividing the revised FHA loan limit by .975.

.04 If, pursuant to section 6a.103A–2(f)(5)(i), an issuer uses more

accurate and comprehensive data to determine the average area purchase price for a statistical area, the issuer must make separate average area purchase price determinations for new and existing residences. Moreover, when computing the 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

2012 Average Area Purchase Prices for Mortgage Revenue Bonds

County Name State One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit

ALEUTIANS WEST AK $365,641 $468,051 $565,795 $703,128 ANCHORAGE AK $356,410 $456,256 $551,538 $685,385 BRISTOL BAY AK $300,769 $385,026 $465,385 $578,410 DENALI AK $324,359 $415,231 $501,897 $623,744 DILLINGHAM AK $341,026 $436,564 $527,692 $655,795 FAIRBANKS NORTH AK $324,359 $415,231 $501,897 $623,744 JUNEAU AK $408,974 $523,538 $632,872 $786,513 KETCHIKAN GATEW AK $330,256 $422,769 $511,026 $635,128 KODIAK ISLAND AK $343,231 $439,385 $531,128 $660,051 MATANUSKA-SUSIT AK $356,410 $456,256 $551,538 $685,385 NOME AK $281,897 $360,872 $436,205 $542,103 NORTH SLOPE AK $314,923 $403,128 $487,333 $605,641 PETERSBURG CENS AK $297,231 $380,513 $459,949 $571,590

2012–20 I.R.B. 916 May 14, 2012

2012 Average Area Purchase Prices for Mortgage Revenue Bonds

County Name State One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit

SITKA AK $442,308 $566,205 $684,462 $850,615 VALDEZ-CORDOVA AK $278,359 $356,359 $430,718 $535,282 YAKUTAT CITY AK $398,667 $510,359 $616,923 $766,667

BALDWIN AL $292,308 $374,205 $452,308 $562,103 RUSSELL AL $297,231 $380,513 $459,949 $571,590

APACHE AZ $288,462 $369,282 $446,359 $554,718 COCONINO AZ $461,538 $590,821 $714,205 $887,590 GILA AZ $333,333 $426,718 $515,795 $641,026 MARICOPA AZ $355,128 $454,615 $549,538 $682,923 MOHAVE AZ $330,769 $423,436 $511,846 $636,103 NAVAJO AZ $316,667 $405,385 $490,000 $608,974 PIMA AZ $324,359 $415,231 $501,897 $623,744 PINAL AZ $355,128 $454,615 $549,538 $682,923 YAVAPAI AZ $400,000 $512,051 $618,974 $769,231

ALAMEDA CA $748,462 $958,154 $1,158,205 $1,439,385 ALPINE CA $561,538 $718,872 $868,923 $1,079,897 AMADOR CA $455,128 $582,615 $704,256 $875,231 BUTTE CA $410,256 $525,179 $634,821 $788,974 CALAVERAS CA $474,359 $607,231 $734,051 $912,256 COLUSA CA $407,692 $521,897 $630,872 $784,000 CONTRA COSTA CA $748,462 $958,154 $1,158,205 $1,439,385 DEL NORTE CA $319,231 $408,667 $494,000 $613,897 EL DORADO CA $594,872 $761,538 $920,513 $1,144,000 FRESNO CA $391,026 $500,564 $605,077 $751,949 GLENN CA $294,872 $377,487 $456,308 $567,077 HUMBOLDT CA $403,846 $516,974 $624,923 $776,615 IMPERIAL CA $333,333 $426,718 $515,795 $641,026 INYO CA $448,718 $574,410 $694,359 $862,923 KERN CA $378,205 $484,154 $585,231 $727,333 KINGS CA $333,333 $426,718 $515,795 $641,026 LAKE CA $411,538 $526,821 $636,821 $791,436 LASSEN CA $292,308 $374,205 $452,308 $562,103 LOS ANGELES CA $748,462 $958,154 $1,158,205 $1,439,385 MADERA CA $435,897 $558,000 $674,513 $838,256 MARIN CA $748,462 $958,154 $1,158,205 $1,439,385 MARIPOSA CA $423,077 $541,590 $654,667 $813,590 MENDOCINO CA $525,641 $672,923 $813,385 $1,010,872 MERCED CA $484,615 $620,410 $749,897 $931,949 MONO CA $542,564 $694,564 $839,590 $1,043,385 MONTEREY CA $748,462 $958,154 $1,158,205 $1,439,385 NAPA CA $748,462 $958,154 $1,158,205 $1,439,385 NEVADA CA $576,923 $738,564 $892,769 $1,109,487 ORANGE CA $748,462 $958,154 $1,158,205 $1,439,385 PLACER CA $594,872 $761,538 $920,513 $1,144,000 PLUMAS CA $420,513 $538,308 $650,718 $808,667 RIVERSIDE CA $512,821 $656,513 $793,538 $986,205 SACRAMENTO CA $594,872 $761,538 $920,513 $1,144,000 SAN BENITO CA $748,462 $958,154 $1,158,205 $1,439,385 SAN BERNARDINO CA $512,821 $656,513 $793,538 $986,205

May 14, 2012 917 2012–20 I.R.B.

2012 Average Area Purchase Prices for Mortgage Revenue Bonds

County Name State One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit

SAN DIEGO CA $715,385 $915,846 $1,107,026 $1,375,744 SAN FRANCISCO CA $748,462 $958,154 $1,158,205 $1,439,385 SAN JOAQUIN CA $501,282 $641,744 $775,692 $964,000 SAN LUIS OBISPO CA $705,128 $902,667 $1,091,128 $1,356,051 SAN MATEO CA $748,462 $958,154 $1,158,205 $1,439,385 SANTA BARBARA CA $748,462 $958,154 $1,158,205 $1,439,385 SANTA CLARA CA $748,462 $958,154 $1,158,205 $1,439,385 SANTA CRUZ CA $748,462 $958,154 $1,158,205 $1,439,385 SHASTA CA $434,615 $556,359 $672,513 $835,795 SIERRA CA $312,564 $400,103 $483,641 $601,077 SISKIYOU CA $301,282 $385,692 $466,205 $579,385 SOLANO CA $571,795 $732,000 $884,821 $1,099,641 SONOMA CA $679,487 $869,846 $1,051,487 $1,306,718 STANISLAUS CA $434,615 $556,359 $672,513 $835,795 SUTTER CA $435,897 $558,000 $674,513 $838,256 TEHAMA CA $320,513 $410,308 $495,949 $616,359 TULARE CA $333,333 $426,718 $515,795 $641,026 TUOLUMNE CA $448,718 $574,410 $694,359 $862,923 VENTURA CA $748,462 $958,154 $1,158,205 $1,439,385 YOLO CA $594,872 $761,538 $920,513 $1,144,000 YUBA CA $435,897 $558,000 $674,513 $838,256

ADAMS CO $416,667 $533,385 $644,769 $801,282 ARAPAHOE CO $416,667 $533,385 $644,769 $801,282 ARCHULETA CO $325,641 $416,872 $503,897 $626,205 BOULDER CO $471,795 $603,949 $730,051 $907,282 BROOMFIELD CO $416,667 $533,385 $644,769 $801,282 CHAFFEE CO $287,179 $367,641 $444,359 $552,256 CLEAR CREEK CO $416,667 $533,385 $644,769 $801,282 DENVER CO $416,667 $533,385 $644,769 $801,282 DOUGLAS CO $416,667 $533,385 $644,769 $801,282 EAGLE CO $748,462 $958,154 $1,158,205 $1,439,385 ELBERT CO $416,667 $533,385 $644,769 $801,282 EL PASO CO $333,333 $426,718 $515,795 $641,026 GARFIELD CO $435,897 $558,000 $674,513 $838,256 GILPIN CO $416,667 $533,385 $644,769 $801,282 GRAND CO $365,385 $467,744 $565,385 $702,667 GUNNISON CO $444,872 $569,487 $688,410 $855,538 HINSDALE CO $571,795 $732,000 $884,821 $1,099,641 JEFFERSON CO $416,667 $533,385 $644,769 $801,282 LAKE CO $748,462 $958,154 $1,158,205 $1,439,385 LA PLATA CO $455,128 $582,615 $704,256 $875,231 LARIMER CO $320,513 $410,308 $495,949 $616,359 MESA CO $380,769 $487,436 $589,231 $732,256 MINERAL CO $307,692 $393,897 $476,103 $591,692 OURAY CO $494,872 $633,538 $765,795 $951,692 PARK CO $416,667 $533,385 $644,769 $801,282 PITKIN CO $748,462 $958,154 $1,158,205 $1,439,385 ROUTT CO $692,308 $886,256 $1,071,333 $1,331,385 SAN JUAN CO $435,897 $558,000 $674,513 $838,256 SAN MIGUEL CO $667,949 $855,077 $1,033,590 $1,284,513

2012–20 I.R.B. 918 May 14, 2012

2012 Average Area Purchase Prices for Mortgage Revenue Bonds

County Name State One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit

SUMMIT CO $748,462 $958,154 $1,158,205 $1,439,385 TELLER CO $333,333 $426,718 $515,795 $641,026 WELD CO $428,205 $548,154 $662,615 $823,487

FAIRFIELD CT $726,923 $930,615 $1,124,872 $1,397,949 HARTFORD CT $451,282 $577,692 $698,308 $867,846 LITCHFIELD CT $384,615 $492,359 $595,179 $739,641 MIDDLESEX CT $451,282 $577,692 $698,308 $867,846 NEW HAVEN CT $397,436 $508,769 $614,974 $764,308 NEW LONDON CT $408,974 $523,538 $632,872 $786,513 TOLLAND CT $451,282 $577,692 $698,308 $867,846 WINDHAM CT $279,487 $357,795 $432,462 $537,487

DISTRICT OF COL DC $748,462 $958,154 $1,158,205 $1,439,385

KENT DE $385,897 $494,000 $597,128 $742,103 NEW CASTLE DE $430,769 $551,436 $666,564 $828,410 SUSSEX DE $384,615 $492,359 $595,179 $739,641

BAKER FL $397,436 $508,769 $614,974 $764,308 BAY FL $406,410 $520,256 $628,872 $781,538 BREVARD FL $298,718 $382,410 $462,256 $574,462 BROWARD FL $434,615 $556,359 $672,513 $835,795 CHARLOTTE FL $303,846 $388,974 $470,154 $584,308 CLAY FL $397,436 $508,769 $614,974 $764,308 COLLIER FL $544,872 $697,538 $843,128 $1,047,846 DUVAL FL $397,436 $508,769 $614,974 $764,308 FLAGLER FL $294,872 $377,487 $456,308 $567,077 FRANKLIN FL $312,821 $400,462 $484,051 $601,590 HERNANDO FL $300,000 $384,051 $464,205 $576,923 HILLSBOROUGH FL $300,000 $384,051 $464,205 $576,923 INDIAN RIVER FL $291,026 $372,564 $450,308 $559,641 LAKE FL $362,821 $464,462 $561,436 $697,744 LEE FL $365,385 $467,744 $565,385 $702,667 MANATEE FL $453,846 $580,974 $702,308 $872,769 MARTIN FL $384,615 $492,359 $595,179 $739,641 MIAMI-DADE FL $434,615 $556,359 $672,513 $835,795 MONROE FL $748,462 $958,154 $1,158,205 $1,439,385 NASSAU FL $397,436 $508,769 $614,974 $764,308 OKALOOSA FL $320,513 $410,308 $495,949 $616,359 ORANGE FL $362,821 $464,462 $561,436 $697,744 OSCEOLA FL $362,821 $464,462 $561,436 $697,744 PALM BEACH FL $434,615 $556,359 $672,513 $835,795 PASCO FL $300,000 $384,051 $464,205 $576,923 PINELLAS FL $300,000 $384,051 $464,205 $576,923 ST. JOHNS FL $397,436 $508,769 $614,974 $764,308 ST. LUCIE FL $384,615 $492,359 $595,179 $739,641 SARASOTA FL $453,846 $580,974 $702,308 $872,769 SEMINOLE FL $362,821 $464,462 $561,436 $697,744 SUMTER FL $285,897 $366,000 $442,410 $549,795 VOLUSIA FL $311,538 $398,821 $482,051 $599,128 WALTON FL $372,092 $476,308 $575,795 $715,538

BARROW GA $355,128 $454,615 $549,538 $682,923

May 14, 2012 919 2012–20 I.R.B.

2012 Average Area Purchase Prices for Mortgage Revenue Bonds

County Name State One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit

BARTOW GA $355,128 $454,615 $549,538 $682,923 BRANTLEY GA $283,333 $362,718 $438,410 $544,872 BUTTS GA $355,128 $454,615 $549,538 $682,923 CARROLL GA $355,128 $454,615 $549,538 $682,923 CHATTAHOOCHEE GA $297,231 $380,513 $459,949 $571,590 CHEROKEE GA $355,128 $454,615 $549,538 $682,923 CLARKE GA $306,410 $392,256 $474,154 $589,231 CLAYTON GA $355,128 $454,615 $549,538 $682,923 COBB GA $355,128 $454,615 $549,538 $682,923 COWETA GA $355,128 $454,615 $549,538 $682,923 DAWSON GA $355,128 $454,615 $549,538 $682,923 DEKALB GA $355,128 $454,615 $549,538 $682,923 DOUGLAS GA $355,128 $454,615 $549,538 $682,923 FAYETTE GA $355,128 $454,615 $549,538 $682,923 FORSYTH GA $355,128 $454,615 $549,538 $682,923 FULTON GA $355,128 $454,615 $549,538 $682,923 GLYNN GA $283,333 $362,718 $438,410 $544,872 GREENE GA $679,487 $869,846 $1,051,487 $1,306,718 GWINNETT GA $355,128 $454,615 $549,538 $682,923 HARALSON GA $355,128 $454,615 $549,538 $682,923 HARRIS GA $297,231 $380,513 $459,949 $571,590 HEARD GA $355,128 $454,615 $549,538 $682,923 HENRY GA $355,128 $454,615 $549,538 $682,923 JASPER GA $355,128 $454,615 $549,538 $682,923 LAMAR GA $355,128 $454,615 $549,538 $682,923 MCINTOSH GA $283,333 $362,718 $438,410 $544,872 MADISON GA $306,410 $392,256 $474,154 $589,231 MARION GA $297,231 $380,513 $459,949 $571,590 MERIWETHER GA $355,128 $454,615 $549,538 $682,923 MUSCOGEE GA $297,231 $380,513 $459,949 $571,590 NEWTON GA $355,128 $454,615 $549,538 $682,923 OCONEE GA $306,410 $392,256 $474,154 $589,231 OGLETHORPE GA $306,410 $392,256 $474,154 $589,231 PAULDING GA $355,128 $454,615 $549,538 $682,923 PICKENS GA $355,128 $454,615 $549,538 $682,923 PIKE GA $355,128 $454,615 $549,538 $682,923 ROCKDALE GA $355,128 $454,615 $549,538 $682,923 SPALDING GA $355,128 $454,615 $549,538 $682,923 WALTON GA $355,128 $454,615 $549,538 $682,923

HAWAII HI $634,615 $812,410 $982,051 $1,220,410 HONOLULU HI $814,103 $1,042,205 $1,259,795 $1,565,590 KALAWAO HI $734,615 $940,462 $1,136,769 $1,412,769 KAUAI HI $793,590 $1,015,949 $1,228,051 $1,526,154 MAUI HI $810,256 $1,037,282 $1,253,846 $1,558,205

ADA ID $311,538 $398,821 $482,051 $599,128 ADAMS ID $280,769 $359,436 $434,462 $539,949 BLAINE ID $748,462 $958,154 $1,158,205 $1,439,385 BOISE ID $311,538 $398,821 $482,051 $599,128 CANYON ID $311,538 $398,821 $482,051 $599,128 GEM ID $311,538 $398,821 $482,051 $599,128

2012–20 I.R.B. 920 May 14, 2012

2012 Average Area Purchase Prices for Mortgage Revenue Bonds

County Name State One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit

KOOTENAI ID $293,590 $375,846 $454,308 $564,564 OWYHEE ID $311,538 $398,821 $482,051 $599,128 TETON ID $711,538 $910,872 $1,101,077 $1,368,359 VALLEY ID $474,359 $607,231 $734,051 $912,256

BOND IL $288,462 $369,282 $446,359 $554,718 BOONE IL $347,949 $445,436 $538,410 $669,128 CALHOUN IL $288,462 $369,282 $446,359 $554,718 CLINTON IL $288,462 $369,282 $446,359 $554,718 COOK IL $420,513 $538,308 $650,718 $808,667 DEKALB IL $420,513 $538,308 $650,718 $808,667 DUPAGE IL $420,513 $538,308 $650,718 $808,667 GRUNDY IL $420,513 $538,308 $650,718 $808,667 JERSEY IL $288,462 $369,282 $446,359 $554,718 KANE IL $420,513 $538,308 $650,718 $808,667 KENDALL IL $420,513 $538,308 $650,718 $808,667 LAKE IL $420,513 $538,308 $650,718 $808,667 MCHENRY IL $420,513 $538,308 $650,718 $808,667 MACOUPIN IL $288,462 $369,282 $446,359 $554,718 MADISON IL $288,462 $369,282 $446,359 $554,718 MONROE IL $288,462 $369,282 $446,359 $554,718 ST. CLAIR IL $288,462 $369,282 $446,359 $554,718 WILL IL $420,513 $538,308 $650,718 $808,667 WINNEBAGO IL $347,949 $445,436 $538,410 $669,128

CLARK IN $310,256 $397,179 $480,103 $596,667 DEARBORN IN $346,154 $443,128 $535,641 $665,692 FLOYD IN $310,256 $397,179 $480,103 $596,667 FRANKLIN IN $346,154 $443,128 $535,641 $665,692 HARRISON IN $310,256 $397,179 $480,103 $596,667 JASPER IN $420,513 $538,308 $650,718 $808,667 LAKE IN $420,513 $538,308 $650,718 $808,667 NEWTON IN $420,513 $538,308 $650,718 $808,667 OHIO IN $346,154 $443,128 $535,641 $665,692 PORTER IN $420,513 $538,308 $650,718 $808,667 WASHINGTON IN $310,256 $397,179 $480,103 $596,667

BOONE KY $346,154 $443,128 $535,641 $665,692 BRACKEN KY $346,154 $443,128 $535,641 $665,692 BULLITT KY $310,256 $397,179 $480,103 $596,667 CAMPBELL KY $346,154 $443,128 $535,641 $665,692 GALLATIN KY $346,154 $443,128 $535,641 $665,692 GRANT KY $346,154 $443,128 $535,641 $665,692 HENRY KY $310,256 $397,179 $480,103 $596,667 JEFFERSON KY $310,256 $397,179 $480,103 $596,667 KENTON KY $346,154 $443,128 $535,641 $665,692 MEADE KY $310,256 $397,179 $480,103 $596,667 NELSON KY $310,256 $397,179 $480,103 $596,667 OLDHAM KY $310,256 $397,179 $480,103 $596,667 PENDLETON KY $346,154 $443,128 $535,641 $665,692 SHELBY KY $310,256 $397,179 $480,103 $596,667 SPENCER KY $310,256 $397,179 $480,103 $596,667

May 14, 2012 921 2012–20 I.R.B.

2012 Average Area Purchase Prices for Mortgage Revenue Bonds

County Name State One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit

TRIMBLE KY $310,256 $397,179 $480,103 $596,667

ASCENSION LA $287,179 $367,641 $444,359 $552,256 EAST BATON ROUG LA $287,179 $367,641 $444,359 $552,256 EAST FELICIANA LA $287,179 $367,641 $444,359 $552,256 IBERVILLE LA $287,179 $367,641 $444,359 $552,256 JEFFERSON LA $294,872 $377,487 $456,308 $567,077 LIVINGSTON LA $287,179 $367,641 $444,359 $552,256 ORLEANS LA $294,872 $377,487 $456,308 $567,077 PLAQUEMINES LA $294,872 $377,487 $456,308 $567,077 POINTE COUPEE LA $287,179 $367,641 $444,359 $552,256 ST. BERNARD LA $294,872 $377,487 $456,308 $567,077 ST. CHARLES LA $294,872 $377,487 $456,308 $567,077 ST. HELENA LA $287,179 $367,641 $444,359 $552,256 ST. JOHN THE BA LA $294,872 $377,487 $456,308 $567,077 ST. TAMMANY LA $294,872 $377,487 $456,308 $567,077 WEST BATON ROUG LA $287,179 $367,641 $444,359 $552,256 WEST FELICIANA LA $287,179 $367,641 $444,359 $552,256

BARNSTABLE MA $474,359 $607,231 $734,051 $912,256 BRISTOL MA $487,179 $623,692 $753,897 $936,872 DUKES MA $748,462 $958,154 $1,158,205 $1,439,385 ESSEX MA $537,179 $687,692 $831,231 $1,033,026 FRANKLIN MA $326,923 $418,513 $505,897 $628,718 HAMPDEN MA $326,923 $418,513 $505,897 $628,718 HAMPSHIRE MA $326,923 $418,513 $505,897 $628,718 MIDDLESEX MA $537,179 $687,692 $831,231 $1,033,026 NANTUCKET MA $748,462 $958,154 $1,158,205 $1,439,385 NORFOLK MA $537,179 $687,692 $831,231 $1,033,026 PLYMOUTH MA $537,179 $687,692 $831,231 $1,033,026 SUFFOLK MA $537,179 $687,692 $831,231 $1,033,026 WORCESTER MA $394,872 $505,487 $611,026 $759,385

ANNE ARUNDEL MD $574,359 $735,282 $888,769 $1,104,564 BALTIMORE MD $574,359 $735,282 $888,769 $1,104,564 CALVERT MD $748,462 $958,154 $1,158,205 $1,439,385 CARROLL MD $574,359 $735,282 $888,769 $1,104,564 CECIL MD $430,769 $551,436 $666,564 $828,410 CHARLES MD $748,462 $958,154 $1,158,205 $1,439,385 FREDERICK MD $748,462 $958,154 $1,158,205 $1,439,385 GARRETT MD $448,718 $574,410 $694,359 $862,923 HARFORD MD $574,359 $735,282 $888,769 $1,104,564 HOWARD MD $574,359 $735,282 $888,769 $1,104,564 KENT MD $352,564 $451,333 $545,538 $678,000 MONTGOMERY MD $748,462 $958,154 $1,158,205 $1,439,385 PRINCE GEORGE’S MD $748,462 $958,154 $1,158,205 $1,439,385 QUEEN ANNE’S MD $574,359 $735,282 $888,769 $1,104,564 ST. MARY’S MD $410,256 $525,179 $634,821 $788,974 SOMERSET MD $337,179 $431,641 $521,744 $648,410 TALBOT MD $455,128 $582,615 $704,256 $875,231 WASHINGTON MD $387,179 $495,641 $599,128 $744,564 WICOMICO MD $337,179 $431,641 $521,744 $648,410

2012–20 I.R.B. 922 May 14, 2012

2012 Average Area Purchase Prices for Mortgage Revenue Bonds

County Name State One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit

WORCESTER MD $448,718 $574,410 $694,359 $862,923 BALTIMORE CITY MD $574,359 $735,282 $888,769 $1,104,564

CUMBERLAND ME $346,154 $443,128 $535,641 $665,692 HANCOCK ME $279,487 $357,795 $432,462 $537,487 KNOX ME $286,615 $366,923 $443,487 $551,179 LINCOLN ME $326,923 $418,513 $505,897 $628,718 SAGADAHOC ME $346,154 $443,128 $535,641 $665,692 YORK ME $346,154 $443,128 $535,641 $665,692

BERRIEN MI $306,410 $392,256 $474,154 $589,231 KALAMAZOO MI $293,590 $375,846 $454,308 $564,564 LAPEER MI $305,128 $390,615 $472,154 $586,769 LENAWEE MI $305,128 $390,615 $472,154 $586,769 LIVINGSTON MI $305,128 $390,615 $472,154 $586,769 MACOMB MI $305,128 $390,615 $472,154 $586,769 MONROE MI $305,128 $390,615 $472,154 $586,769 OAKLAND MI $305,128 $390,615 $472,154 $586,769 ST. CLAIR MI $305,128 $390,615 $472,154 $586,769 VAN BUREN MI $293,590 $375,846 $454,308 $564,564 WASHTENAW MI $353,846 $452,974 $547,538 $680,462 WAYNE MI $305,128 $390,615 $472,154 $586,769

ANOKA MN $374,359 $479,231 $579,282 $719,897 CARVER MN $374,359 $479,231 $579,282 $719,897 CHISAGO MN $374,359 $479,231 $579,282 $719,897 COOK MN $303,846 $388,974 $470,154 $584,308 DAKOTA MN $374,359 $479,231 $579,282 $719,897 HENNEPIN MN $374,359 $479,231 $579,282 $719,897 ISANTI MN $374,359 $479,231 $579,282 $719,897 RAMSEY MN $374,359 $479,231 $579,282 $719,897 SCOTT MN $374,359 $479,231 $579,282 $719,897 SHERBURNE MN $374,359 $479,231 $579,282 $719,897 WASHINGTON MN $374,359 $479,231 $579,282 $719,897 WRIGHT MN $374,359 $479,231 $579,282 $719,897

CRAWFORD MO $288,462 $369,282 $446,359 $554,718 FRANKLIN MO $288,462 $369,282 $446,359 $554,718 JEFFERSON MO $288,462 $369,282 $446,359 $554,718 LINCOLN MO $288,462 $369,282 $446,359 $554,718 ST. CHARLES MO $288,462 $369,282 $446,359 $554,718 ST. LOUIS MO $288,462 $369,282 $446,359 $554,718 WARREN MO $288,462 $369,282 $446,359 $554,718 WASHINGTON MO $288,462 $369,282 $446,359 $554,718 ST. LOUIS CITY MO $288,462 $369,282 $446,359 $554,718

CARBON MT $298,718 $382,410 $462,256 $574,462 FLATHEAD MT $309,026 $395,590 $478,205 $594,256 GALLATIN MT $396,154 $507,128 $613,026 $761,846 JEFFERSON MT $350,000 $448,051 $541,590 $673,077 LAKE MT $308,974 $395,538 $478,103 $594,154 LEWIS AND CLARK MT $350,000 $448,051 $541,590 $673,077 MADISON MT $288,974 $369,949 $447,179 $555,692 MISSOULA MT $298,718 $382,410 $462,256 $574,462

May 14, 2012 923 2012–20 I.R.B.

2012 Average Area Purchase Prices for Mortgage Revenue Bonds

County Name State One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit

RAVALLI MT $311,538 $398,821 $482,051 $599,128 SWEET GRASS MT $355,128 $454,615 $549,538 $682,923 YELLOWSTONE MT $298,718 $382,410 $462,256 $574,462

ANSON NC $311,538 $398,821 $482,051 $599,128 BRUNSWICK NC $311,538 $398,821 $482,051 $599,128 BUNCOMBE NC $311,538 $398,821 $482,051 $599,128 CABARRUS NC $311,538 $398,821 $482,051 $599,128 CAMDEN NC $748,462 $958,154 $1,158,205 $1,439,385 CARTERET NC $294,872 $377,487 $456,308 $567,077 CHATHAM NC $343,231 $439,385 $531,128 $660,051 CURRITUCK NC $470,615 $602,462 $728,256 $905,026 DARE NC $471,795 $603,949 $730,051 $907,282 DURHAM NC $343,231 $439,385 $531,128 $660,051 FRANKLIN NC $302,564 $387,333 $468,205 $581,846 GASTON NC $311,538 $398,821 $482,051 $599,128 HAYWOOD NC $311,538 $398,821 $482,051 $599,128 HENDERSON NC $311,538 $398,821 $482,051 $599,128 HYDE NC $495,385 $634,154 $766,564 $952,667 JOHNSTON NC $302,564 $387,333 $468,205 $581,846 MADISON NC $311,538 $398,821 $482,051 $599,128 MECKLENBURG NC $311,538 $398,821 $482,051 $599,128 NEW HANOVER NC $311,538 $398,821 $482,051 $599,128 ONSLOW NC $314,103 $402,103 $486,051 $604,051 ORANGE NC $343,231 $439,385 $531,128 $660,051 PASQUOTANK NC $748,462 $958,154 $1,158,205 $1,439,385 PENDER NC $311,538 $398,821 $482,051 $599,128 PERQUIMANS NC $748,462 $958,154 $1,158,205 $1,439,385 PERSON NC $343,231 $439,385 $531,128 $660,051 TRANSYLVANIA NC $301,282 $385,692 $466,205 $579,385 UNION NC $311,538 $398,821 $482,051 $599,128 WAKE NC $302,564 $387,333 $468,205 $581,846 WATAUGA NC $292,308 $374,205 $452,308 $562,103

BILLINGS ND $312,564 $400,103 $483,641 $601,077 STARK ND $312,564 $400,103 $483,641 $601,077

BELKNAP NH $288,462 $369,282 $446,359 $554,718 GRAFTON NH $288,462 $369,282 $446,359 $554,718 HILLSBOROUGH NH $412,821 $528,462 $638,821 $793,897 MERRIMACK NH $310,256 $397,179 $480,103 $596,667 ROCKINGHAM NH $537,179 $687,692 $831,231 $1,033,026 STRAFFORD NH $537,179 $687,692 $831,231 $1,033,026

ATLANTIC NJ $465,385 $595,744 $720,154 $894,974 BERGEN NJ $748,462 $958,154 $1,158,205 $1,439,385 BURLINGTON NJ $430,769 $551,436 $666,564 $828,410 CAMDEN NJ $430,769 $551,436 $666,564 $828,410 CAPE MAY NJ $500,000 $640,103 $773,692 $961,538 CUMBERLAND NJ $415,385 $531,744 $642,769 $798,821 ESSEX NJ $748,462 $958,154 $1,158,205 $1,439,385 GLOUCESTER NJ $430,769 $551,436 $666,564 $828,410 HUDSON NJ $748,462 $958,154 $1,158,205 $1,439,385

2012–20 I.R.B. 924 May 14, 2012

2012 Average Area Purchase Prices for Mortgage Revenue Bonds

County Name State One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit

HUNTERDON NJ $748,462 $958,154 $1,158,205 $1,439,385 MERCER NJ $451,282 $577,692 $698,308 $867,846 MIDDLESEX NJ $748,462 $958,154 $1,158,205 $1,439,385 MONMOUTH NJ $748,462 $958,154 $1,158,205 $1,439,385 MORRIS NJ $748,462 $958,154 $1,158,205 $1,439,385 OCEAN NJ $748,462 $958,154 $1,158,205 $1,439,385 PASSAIC NJ $748,462 $958,154 $1,158,205 $1,439,385 SALEM NJ $430,769 $551,436 $666,564 $828,410 SOMERSET NJ $748,462 $958,154 $1,158,205 $1,439,385 SUSSEX NJ $748,462 $958,154 $1,158,205 $1,439,385 UNION NJ $748,462 $958,154 $1,158,205 $1,439,385 WARREN NJ $412,821 $528,462 $638,821 $793,897

LOS ALAMOS NM $390,410 $499,795 $604,103 $750,769 SAN JUAN NM $288,462 $369,282 $446,359 $554,718 SANTA FE NM $438,462 $561,282 $678,462 $843,179 TAOS NM $293,692 $375,949 $454,462 $564,769

CLARK NV $410,256 $525,179 $634,821 $788,974 DOUGLAS NV $480,769 $615,487 $743,949 $924,564 ELKO NV $333,333 $426,718 $515,795 $641,026 EUREKA NV $333,333 $426,718 $515,795 $641,026 LYON NV $339,744 $434,923 $525,744 $653,333 NYE NV $333,333 $426,718 $515,795 $641,026 STOREY NV $414,103 $530,103 $640,769 $796,359 WASHOE NV $414,103 $530,103 $640,769 $796,359 CARSON CITY NV $408,974 $523,538 $632,872 $786,513

ALBANY NY $320,513 $410,308 $495,949 $616,359 BRONX NY $748,462 $958,154 $1,158,205 $1,439,385 COLUMBIA NY $283,333 $362,718 $438,410 $544,872 DUTCHESS NY $455,128 $582,615 $704,256 $875,231 ERIE NY $283,333 $362,718 $438,410 $544,872 KINGS NY $748,462 $958,154 $1,158,205 $1,439,385 MADISON NY $288,462 $369,282 $446,359 $554,718 NASSAU NY $748,462 $958,154 $1,158,205 $1,439,385 NEW YORK NY $748,462 $958,154 $1,158,205 $1,439,385 NIAGARA NY $283,333 $362,718 $438,410 $544,872 ONONDAGA NY $288,462 $369,282 $446,359 $554,718 ORANGE NY $455,128 $582,615 $704,256 $875,231 OSWEGO NY $288,462 $369,282 $446,359 $554,718 PUTNAM NY $748,462 $958,154 $1,158,205 $1,439,385 QUEENS NY $748,462 $958,154 $1,158,205 $1,439,385 RENSSELAER NY $320,513 $410,308 $495,949 $616,359 RICHMOND NY $748,462 $958,154 $1,158,205 $1,439,385 ROCKLAND NY $748,462 $958,154 $1,158,205 $1,439,385 SARATOGA NY $320,513 $410,308 $495,949 $616,359 SCHENECTADY NY $320,513 $410,308 $495,949 $616,359 SCHOHARIE NY $320,513 $410,308 $495,949 $616,359 SUFFOLK NY $748,462 $958,154 $1,158,205 $1,439,385 ULSTER NY $416,667 $533,385 $644,769 $801,282 WESTCHESTER NY $748,462 $958,154 $1,158,205 $1,439,385

May 14, 2012 925 2012–20 I.R.B.

2012 Average Area Purchase Prices for Mortgage Revenue Bonds

County Name State One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit

ASHTABULA OH $298,718 $382,410 $462,256 $574,462 ATHENS OH $443,590 $567,846 $686,410 $853,077 BROWN OH $346,154 $443,128 $535,641 $665,692 BUTLER OH $346,154 $443,128 $535,641 $665,692 CARROLL OH $284,615 $364,359 $440,410 $547,333 CLERMONT OH $346,154 $443,128 $535,641 $665,692 CUYAHOGA OH $306,410 $392,256 $474,154 $589,231 DELAWARE OH $350,000 $448,051 $541,590 $673,077 FAIRFIELD OH $350,000 $448,051 $541,590 $673,077 FRANKLIN OH $350,000 $448,051 $541,590 $673,077 GEAUGA OH $306,410 $392,256 $474,154 $589,231 GREENE OH $278,205 $356,154 $430,513 $535,026 HAMILTON OH $346,154 $443,128 $535,641 $665,692 LAKE OH $306,410 $392,256 $474,154 $589,231 LICKING OH $350,000 $448,051 $541,590 $673,077 LORAIN OH $306,410 $392,256 $474,154 $589,231 MADISON OH $350,000 $448,051 $541,590 $673,077 MEDINA OH $306,410 $392,256 $474,154 $589,231 MERCER OH $300,000 $384,051 $464,205 $576,923 MIAMI OH $278,205 $356,154 $430,513 $535,026 MONTGOMERY OH $278,205 $356,154 $430,513 $535,026 MORROW OH $350,000 $448,051 $541,590 $673,077 PICKAWAY OH $350,000 $448,051 $541,590 $673,077 PORTAGE OH $338,462 $433,282 $523,744 $650,872 PREBLE OH $278,205 $356,154 $430,513 $535,026 STARK OH $284,615 $364,359 $440,410 $547,333 SUMMIT OH $338,462 $433,282 $523,744 $650,872 UNION OH $350,000 $448,051 $541,590 $673,077 VAN WERT OH $308,974 $395,538 $478,103 $594,154 WARREN OH $346,154 $443,128 $535,641 $665,692

BENTON OR $346,154 $443,128 $535,641 $665,692 CLACKAMAS OR $429,487 $549,795 $664,615 $825,949 CLATSOP OR $356,410 $456,256 $551,538 $685,385 COLUMBIA OR $429,487 $549,795 $664,615 $825,949 CURRY OR $360,256 $461,179 $557,487 $692,821 DESCHUTES OR $458,974 $587,538 $710,205 $882,667 HOOD RIVER OR $403,846 $516,974 $624,923 $776,615 JACKSON OR $433,333 $554,718 $670,564 $833,333 JOSEPHINE OR $333,333 $426,718 $515,795 $641,026 LANE OR $352,564 $451,333 $545,538 $678,000 LINCOLN OR $320,513 $410,308 $495,949 $616,359 MARION OR $302,564 $387,333 $468,205 $581,846 MULTNOMAH OR $429,487 $549,795 $664,615 $825,949 POLK OR $302,564 $387,333 $468,205 $581,846 TILLAMOOK OR $352,564 $451,333 $545,538 $678,000 WASHINGTON OR $429,487 $549,795 $664,615 $825,949 YAMHILL OR $429,487 $549,795 $664,615 $825,949

ALLEGHENY PA $335,897 $430,000 $519,795 $645,949 ARMSTRONG PA $335,897 $430,000 $519,795 $645,949 BEAVER PA $335,897 $430,000 $519,795 $645,949

2012–20 I.R.B. 926 May 14, 2012

2012 Average Area Purchase Prices for Mortgage Revenue Bonds

County Name State One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit

BERKS PA $307,692 $393,897 $476,103 $591,692 BUCKS PA $430,769 $551,436 $666,564 $828,410 BUTLER PA $335,897 $430,000 $519,795 $645,949 CARBON PA $412,821 $528,462 $638,821 $793,897 CENTRE PA $287,179 $367,641 $444,359 $552,256 CHESTER PA $430,769 $551,436 $666,564 $828,410 DELAWARE PA $430,769 $551,436 $666,564 $828,410 FAYETTE PA $335,897 $430,000 $519,795 $645,949 LANCASTER PA $393,590 $503,846 $609,026 $756,923 LEHIGH PA $412,821 $528,462 $638,821 $793,897 MONTGOMERY PA $430,769 $551,436 $666,564 $828,410 NORTHAMPTON PA $412,821 $528,462 $638,821 $793,897 PHILADELPHIA PA $430,769 $551,436 $666,564 $828,410 PIKE PA $748,462 $958,154 $1,158,205 $1,439,385 WASHINGTON PA $335,897 $430,000 $519,795 $645,949 WESTMORELAND PA $335,897 $430,000 $519,795 $645,949 YORK PA $435,897 $558,000 $674,513 $838,256

BRISTOL RI $487,179 $623,692 $753,897 $936,872 KENT RI $487,179 $623,692 $753,897 $936,872 NEWPORT RI $487,179 $623,692 $753,897 $936,872 PROVIDENCE RI $487,179 $623,692 $753,897 $936,872 WASHINGTON RI $487,179 $623,692 $753,897 $936,872

BEAUFORT SC $397,436 $508,769 $614,974 $764,308 BERKELEY SC $343,590 $439,846 $531,692 $660,769 CHARLESTON SC $343,590 $439,846 $531,692 $660,769 DORCHESTER SC $343,590 $439,846 $531,692 $660,769 GEORGETOWN SC $405,128 $518,615 $626,923 $779,077 GREENVILLE SC $302,564 $387,333 $468,205 $581,846 HORRY SC $293,590 $375,846 $454,308 $564,564 JASPER SC $397,436 $508,769 $614,974 $764,308 LAURENS SC $302,564 $387,333 $468,205 $581,846 PICKENS SC $302,564 $387,333 $468,205 $581,846 YORK SC $311,538 $398,821 $482,051 $599,128

CANNON TN $443,590 $567,846 $686,410 $853,077 CHEATHAM TN $443,590 $567,846 $686,410 $853,077 DAVIDSON TN $443,590 $567,846 $686,410 $853,077 DICKSON TN $443,590 $567,846 $686,410 $853,077 HICKMAN TN $443,590 $567,846 $686,410 $853,077 MACON TN $443,590 $567,846 $686,410 $853,077 ROBERTSON TN $443,590 $567,846 $686,410 $853,077 RUTHERFORD TN $443,590 $567,846 $686,410 $853,077 SMITH TN $443,590 $567,846 $686,410 $853,077 SUMNER TN $443,590 $567,846 $686,410 $853,077 TROUSDALE TN $443,590 $567,846 $686,410 $853,077 WILLIAMSON TN $443,590 $567,846 $686,410 $853,077 WILSON TN $443,590 $567,846 $686,410 $853,077

ATASCOSA TX $341,026 $436,564 $527,692 $655,795 BANDERA TX $341,026 $436,564 $527,692 $655,795 BASTROP TX $296,154 $379,128 $458,256 $569,538

May 14, 2012 927 2012–20 I.R.B.

2012 Average Area Purchase Prices for Mortgage Revenue Bonds

County Name State One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit

BEXAR TX $341,026 $436,564 $527,692 $655,795 CALDWELL TX $296,154 $379,128 $458,256 $569,538 COMAL TX $341,026 $436,564 $527,692 $655,795 GUADALUPE TX $341,026 $436,564 $527,692 $655,795 HAYS TX $296,154 $379,128 $458,256 $569,538 JEFF DAVIS TX $278,205 $356,154 $430,513 $535,026 KENDALL TX $341,026 $436,564 $527,692 $655,795 MEDINA TX $341,026 $436,564 $527,692 $655,795 TRAVIS TX $296,154 $379,128 $458,256 $569,538 WILLIAMSON TX $296,154 $379,128 $458,256 $569,538 WILSON TX $341,026 $436,564 $527,692 $655,795

DAGGETT UT $310,205 $397,128 $480,000 $596,564 DAVIS UT $407,692 $521,897 $630,872 $784,000 JUAB UT $332,051 $425,077 $513,795 $638,564 KANE UT $393,590 $503,846 $609,026 $756,923 MORGAN UT $407,692 $521,897 $630,872 $784,000 RICH UT $304,308 $389,538 $470,872 $585,179 SALT LAKE UT $748,462 $958,154 $1,158,205 $1,439,385 SUMMIT UT $748,462 $958,154 $1,158,205 $1,439,385 TOOELE UT $748,462 $958,154 $1,158,205 $1,439,385 UTAH UT $332,051 $425,077 $513,795 $638,564 WASATCH UT $442,308 $566,205 $684,462 $850,615 WASHINGTON UT $382,051 $489,077 $591,179 $734,718 WEBER UT $407,692 $521,897 $630,872 $784,000

ALBEMARLE VA $448,205 $573,795 $693,538 $861,949 AMELIA VA $549,641 $703,641 $850,513 $1,057,026 AMHERST VA $299,590 $383,538 $463,590 $576,103 APPOMATTOX VA $299,590 $383,538 $463,590 $576,103 ARLINGTON VA $748,462 $958,154 $1,158,205 $1,439,385 BEDFORD VA $299,590 $383,538 $463,590 $576,103 BOTETOURT VA $287,179 $367,641 $444,359 $552,256 CAMPBELL VA $299,590 $383,538 $463,590 $576,103 CAROLINE VA $549,641 $703,641 $850,513 $1,057,026 CHARLES CITY VA $549,641 $703,641 $850,513 $1,057,026 CHESTERFIELD VA $549,641 $703,641 $850,513 $1,057,026 CLARKE VA $748,462 $958,154 $1,158,205 $1,439,385 CRAIG VA $287,179 $367,641 $444,359 $552,256 CULPEPER VA $392,308 $502,205 $607,077 $754,462 CUMBERLAND VA $549,641 $703,641 $850,513 $1,057,026 DINWIDDIE VA $549,641 $703,641 $850,513 $1,057,026 ESSEX VA $384,615 $492,359 $595,179 $739,641 FAIRFAX VA $748,462 $958,154 $1,158,205 $1,439,385 FAUQUIER VA $748,462 $958,154 $1,158,205 $1,439,385 FLUVANNA VA $448,205 $573,795 $693,538 $861,949 FRANKLIN VA $287,179 $367,641 $444,359 $552,256 FREDERICK VA $487,179 $623,692 $753,897 $936,872 GILES VA $299,590 $383,538 $463,590 $576,103 GLOUCESTER VA $470,615 $602,462 $728,256 $905,026 GOOCHLAND VA $549,641 $703,641 $850,513 $1,057,026 GREENE VA $448,205 $573,795 $693,538 $861,949

2012–20 I.R.B. 928 May 14, 2012

2012 Average Area Purchase Prices for Mortgage Revenue Bonds

County Name State One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit

HANOVER VA $549,641 $703,641 $850,513 $1,057,026 HENRICO VA $549,641 $703,641 $850,513 $1,057,026 HIGHLAND VA $294,872 $377,487 $456,308 $567,077 ISLE OF WIGHT VA $470,615 $602,462 $728,256 $905,026 JAMES CITY VA $470,615 $602,462 $728,256 $905,026 KING AND QUEEN VA $549,641 $703,641 $850,513 $1,057,026 KING GEORGE VA $396,154 $507,128 $613,026 $761,846 KING WILLIAM VA $549,641 $703,641 $850,513 $1,057,026 LANCASTER VA $558,974 $715,590 $864,974 $1,074,974 LOUDOUN VA $748,462 $958,154 $1,158,205 $1,439,385 LOUISA VA $549,641 $703,641 $850,513 $1,057,026 MADISON VA $284,615 $364,359 $440,410 $547,333 MATHEWS VA $470,615 $602,462 $728,256 $905,026 MIDDLESEX VA $338,462 $433,282 $523,744 $650,872 MONTGOMERY VA $299,590 $383,538 $463,590 $576,103 NELSON VA $448,205 $573,795 $693,538 $861,949 NEW KENT VA $549,641 $703,641 $850,513 $1,057,026 NORTHUMBERLAND VA $402,564 $515,333 $622,923 $774,154 ORANGE VA $339,744 $434,923 $525,744 $653,333 POWHATAN VA $549,641 $703,641 $850,513 $1,057,026 PRINCE GEORGE VA $549,641 $703,641 $850,513 $1,057,026 PRINCE WILLIAM VA $748,462 $958,154 $1,158,205 $1,439,385 PULASKI VA $299,590 $383,538 $463,590 $576,103 RAPPAHANNOCK VA $369,179 $472,615 $571,282 $709,949 RICHMOND VA $307,692 $393,897 $476,103 $591,692 ROANOKE VA $287,179 $367,641 $444,359 $552,256 ROCKINGHAM VA $284,256 $363,897 $439,846 $546,615 SPOTSYLVANIA VA $748,462 $958,154 $1,158,205 $1,439,385 STAFFORD VA $748,462 $958,154 $1,158,205 $1,439,385 SURRY VA $470,615 $602,462 $728,256 $905,026 SUSSEX VA $549,641 $703,641 $850,513 $1,057,026 WARREN VA $748,462 $958,154 $1,158,205 $1,439,385 YORK VA $470,615 $602,462 $728,256 $905,026 ALEXANDRIA VA $748,462 $958,154 $1,158,205 $1,439,385 BEDFORD IND VA $299,590 $383,538 $463,590 $576,103 CHARLOTTESVILLE VA $448,205 $573,795 $693,538 $861,949 CHESAPEAKE VA $470,615 $602,462 $728,256 $905,026 COLONIAL HEIGHT VA $549,641 $703,641 $850,513 $1,057,026 FAIRFAX IND VA $748,462 $958,154 $1,158,205 $1,439,385 FALLS CHURCH VA $748,462 $958,154 $1,158,205 $1,439,385 FREDERICKSBURG VA $748,462 $958,154 $1,158,205 $1,439,385 HAMPTON VA $470,615 $602,462 $728,256 $905,026 HARRISONBURG VA $284,256 $363,897 $439,846 $546,615 HOPEWELL VA $549,641 $703,641 $850,513 $1,057,026 LEXINGTON VA $303,846 $388,974 $470,154 $584,308 LYNCHBURG VA $299,590 $383,538 $463,590 $576,103 MANASSAS VA $748,462 $958,154 $1,158,205 $1,439,385 MANASSAS PARK VA $748,462 $958,154 $1,158,205 $1,439,385 NEWPORT NEWS VA $470,615 $602,462 $728,256 $905,026 NORFOLK VA $470,615 $602,462 $728,256 $905,026

May 14, 2012 929 2012–20 I.R.B.

2012 Average Area Purchase Prices for Mortgage Revenue Bonds

County Name State One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit

PETERSBURG VA $549,641 $703,641 $850,513 $1,057,026 POQUOSON VA $470,615 $602,462 $728,256 $905,026 PORTSMOUTH VA $470,615 $602,462 $728,256 $905,026 RADFORD VA $299,590 $383,538 $463,590 $576,103 RICHMOND IND VA $549,641 $703,641 $850,513 $1,057,026 ROANOKE IND VA $287,179 $367,641 $444,359 $552,256 SALEM VA $287,179 $367,641 $444,359 $552,256 SUFFOLK VA $470,615 $602,462 $728,256 $905,026 VIRGINIA BEACH VA $470,615 $602,462 $728,256 $905,026 WILLIAMSBURG VA $470,615 $602,462 $728,256 $905,026 WINCHESTER VA $487,179 $623,692 $753,897 $936,872

BENNINGTON VT $284,256 $363,897 $439,846 $546,615 CHITTENDEN VT $326,923 $418,513 $505,897 $628,718 FRANKLIN VT $326,923 $418,513 $505,897 $628,718 GRAND ISLE VT $326,923 $418,513 $505,897 $628,718 LAMOILLE VT $283,077 $362,359 $438,051 $544,359 ORANGE VT $288,462 $369,282 $446,359 $554,718 WINDSOR VT $288,462 $369,282 $446,359 $554,718

BENTON WA $282,051 $361,077 $436,462 $542,410 CHELAN WA $351,487 $449,949 $543,897 $675,949 CLALLAM WA $393,949 $504,308 $609,590 $757,590 CLARK WA $429,487 $549,795 $664,615 $825,949 DOUGLAS WA $351,487 $449,949 $543,897 $675,949 FRANKLIN WA $282,051 $361,077 $436,462 $542,410 ISLAND WA $391,026 $500,564 $605,077 $751,949 JEFFERSON WA $448,718 $574,410 $694,359 $862,923 KING WA $582,051 $745,128 $900,667 $1,119,333 KITSAP WA $487,179 $623,692 $753,897 $936,872 KITTITAS WA $337,179 $431,641 $521,744 $648,410 MASON WA $317,949 $407,026 $492,000 $611,436 PIERCE WA $582,051 $745,128 $900,667 $1,119,333 SAN JUAN WA $608,974 $779,590 $942,359 $1,171,128 SKAGIT WA $383,333 $490,718 $593,179 $737,179 SKAMANIA WA $429,487 $549,795 $664,615 $825,949 SNOHOMISH WA $582,051 $745,128 $900,667 $1,119,333 THURSTON WA $370,513 $474,308 $573,333 $712,513 WHATCOM WA $384,615 $492,359 $595,179 $739,641

COLUMBIA WI $301,282 $385,692 $466,205 $579,385 DANE WI $301,282 $385,692 $466,205 $579,385 IOWA WI $301,282 $385,692 $466,205 $579,385 KENOSHA WI $420,513 $538,308 $650,718 $808,667 MILWAUKEE WI $323,077 $413,590 $499,949 $621,282 OZAUKEE WI $323,077 $413,590 $499,949 $621,282 PIERCE WI $374,359 $479,231 $579,282 $719,897 ST. CROIX WI $374,359 $479,231 $579,282 $719,897 WALWORTH WI $285,897 $366,000 $442,410 $549,795 WASHINGTON WI $323,077 $413,590 $499,949 $621,282 WAUKESHA WI $323,077 $413,590 $499,949 $621,282

BERKELEY WV $387,179 $495,641 $599,128 $744,564

2012–20 I.R.B. 930 May 14, 2012

2012 Average Area Purchase Prices for Mortgage Revenue Bonds

County Name State One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit

HAMPSHIRE WV $487,179 $623,692 $753,897 $936,872 JEFFERSON WV $748,462 $958,154 $1,158,205 $1,439,385 MORGAN WV $387,179 $495,641 $599,128 $744,564

SHERIDAN WY $279,487 $357,795 $432,462 $537,487 SUBLETTE WY $306,410 $392,256 $474,154 $589,231 TETON WY $711,538 $910,872 $1,101,077 $1,368,359

MANUA AS $312,821 $400,462 $484,051 $601,590

GUAM GU $667,949 $855,077 $1,033,590 $1,284,513

NORTHERN ISLAND MP $620,513 $794,359 $960,205 $1,193,333 ROTA MP $485,897 $622,051 $751,897 $934,410 SAIPAN MP $625,641 $800,923 $968,154 $1,203,179 TINIAN MP $629,487 $805,846 $974,103 $1,210,564

AGUAS BUENAS PR $621,795 $796,000 $962,205 $1,195,795 AIBONITO PR $621,795 $796,000 $962,205 $1,195,795 ARECIBO PR $621,795 $796,000 $962,205 $1,195,795 BARCELONETA PR $621,795 $796,000 $962,205 $1,195,795 BARRANQUITAS PR $621,795 $796,000 $962,205 $1,195,795 BAYAMON PR $621,795 $796,000 $962,205 $1,195,795 CAGUAS PR $621,795 $796,000 $962,205 $1,195,795 CAMUY PR $621,795 $796,000 $962,205 $1,195,795 CANOVANAS PR $621,795 $796,000 $962,205 $1,195,795 CAROLINA PR $621,795 $796,000 $962,205 $1,195,795 CATANO PR $621,795 $796,000 $962,205 $1,195,795 CAYEY PR $621,795 $796,000 $962,205 $1,195,795 CEIBA PR $333,333 $426,718 $515,795 $641,026 CIALES PR $621,795 $796,000 $962,205 $1,195,795 CIDRA PR $621,795 $796,000 $962,205 $1,195,795 COMERIO PR $621,795 $796,000 $962,205 $1,195,795 COROZAL PR $621,795 $796,000 $962,205 $1,195,795 DORADO PR $621,795 $796,000 $962,205 $1,195,795 FAJARDO PR $333,333 $426,718 $515,795 $641,026 FLORIDA PR $621,795 $796,000 $962,205 $1,195,795 GUAYNABO PR $621,795 $796,000 $962,205 $1,195,795 GURABO PR $621,795 $796,000 $962,205 $1,195,795 HATILLO PR $621,795 $796,000 $962,205 $1,195,795 HUMACAO PR $621,795 $796,000 $962,205 $1,195,795 JUNCOS PR $621,795 $796,000 $962,205 $1,195,795 LAS PIEDRAS PR $621,795 $796,000 $962,205 $1,195,795 LOIZA PR $621,795 $796,000 $962,205 $1,195,795 LUQUILLO PR $333,333 $426,718 $515,795 $641,026 MANATI PR $621,795 $796,000 $962,205 $1,195,795 MAUNABO PR $621,795 $796,000 $962,205 $1,195,795 MOROVIS PR $621,795 $796,000 $962,205 $1,195,795 NAGUABO PR $621,795 $796,000 $962,205 $1,195,795 NARANJITO PR $621,795 $796,000 $962,205 $1,195,795 OROCOVIS PR $621,795 $796,000 $962,205 $1,195,795 QUEBRADILLAS PR $621,795 $796,000 $962,205 $1,195,795 RIO GRANDE PR $621,795 $796,000 $962,205 $1,195,795 SAN JUAN PR $621,795 $796,000 $962,205 $1,195,795

May 14, 2012 931 2012–20 I.R.B.

2012 Average Area Purchase Prices for Mortgage Revenue Bonds

County Name State One-Unit Limit Two-Unit Limit Three-Unit Limit Four-Unit Limit

SAN LORENZO PR $621,795 $796,000 $962,205 $1,195,795 TOA ALTA PR $621,795 $796,000 $962,205 $1,195,795 TOA BAJA PR $621,795 $796,000 $962,205 $1,195,795 TRUJILLO ALTO PR $621,795 $796,000 $962,205 $1,195,795 VEGA ALTA PR $621,795 $796,000 $962,205 $1,195,795 VEGA BAJA PR $621,795 $796,000 $962,205 $1,195,795 YABUCOA PR $621,795 $796,000 $962,205 $1,195,795

ST. CROIX VI $336,154 $430,308 $520,154 $646,462 ST. JOHN VI $639,282 $818,410 $989,231 $1,229,385 ST. THOMAS VI $457,641 $585,846 $708,154 $880,103

All other areas (floor): $278,000 $355,897 $430,154 $534,615

under CY2012 FHA Forward Limits, and certain HUD price data for individual counties is available at https://entp.hud.gov/idapp/html/hicostlook.cfm .

Absent modifications, the use of HUD data on county median housing purchase prices potentially would result in significant declines in purchase price limits compared to prior limits, particularly in rural areas. The Treasury Department and the IRS are considering certain appropriate modifications to the HUD price data in implementing this alternative method.

One potential modification would be to consider setting floors on purchase price safe harbors. Potential approaches to setting floors on purchase prices might include national average prices, county average prices, rural county average prices, or some percentile of county average prices. For illustrative purposes only, set forth below are the floors on mean purchase prices that would result from using one of these approaches with 2012 data: (1) national average price ($214,000); (2) county average price ($174,862); (3) rural county average price ($112,864); (4) 25 ^th percentile of county average price ($92,308); (5) 50 ^th percentile of county average price ($138,462); or (6) 75 ^th percentile of county average price ($214,103).

Another potential modification would be to consider transitional relief to phase in the effects of the changes over an extended period, as compared with a baseline of the 2012 purchase price safe harbors in section 4.01 of this revenue procedure. Potential phase-in periods might include a period of three years to five years. In addition, a technical modification will make adjustments for differences between

.02 The nationwide average purchase price (for use in the housing cost/income ratio for new and existing residences) is $214,000.