Calculating Income

The formula used to calculate income from wages will be dependent on the frequency the applicant is being paid by their employer. An income qualified household is a household whose gross annual income* is at or below the applicable income limit. ( *Gross income is income before any deductions. )

 

Pay Rate Formula & Example 
Hourly(Hourly Wages) x (Number of Hours Worked) x (52 Weeks)
$14 x 40 x 52 = $29,120
Weekly(Weekly Wages) x (52 Weeks)
$375 x 52 = $19,500
Bi-Weekly(Bi-Weekly Wages) x (26 Weeks)
$720 x 26 = $18,720
Semi-Monthly(Semi-Monthly Wages) x (24 Weeks)
$720 x 24 = $17,280
Monthly(Monthly Wages) x (12 Months)
$2,000 x 12 – $24,000
Annual Salary(Annual Amount Received)
$26,000