Area Median Income Law and Legal Definition

According to 12 CFR 26.2 [Title 12 -- Banks and Banking; Chapter I -- Comptroller of the Currency, Department of the Treasury; Part 26 -- Management Official Interlocks] area median income means:

(1) The median family income for the metropolitan statistical area (MSA), if a depository organization is located in an MSA; or

(2) The statewide non-metropolitan median family income, if a depository organization is located outside an MSA.