What are HOME program rent limits?
The HOME Investment Partnerships Program sets maximum rents for units in HOME-funded affordable housing. High HOME rents are the lesser of the Section 8 FMR or 30% of 65% of Area Median Income, and apply to most assisted units. Low HOME rents apply to units reserved for very low-income households (the "20 at 50" set-aside) and are based on 30% of 50% AMI.
HOME Program Rent Limits — Cleveland-Elyria, OH MSA
FMRs · Income Limits · LIHTC Rents
FY2024 HOME Rent Limits — Cleveland-Elyria, OH MSA
| Limit Type | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| High HOME Rent | $811 | $913 | $1,108 | $1,434 | $1,527 |
| Low HOME Rent | $851 | $972 | $1,093 | $1,215 | $1,312 |
High HOME Rent History (2-Bedroom)
| Fiscal Year | High HOME 2BR | Low HOME 2BR |
|---|---|---|
| FY2024 | $1,108 | $1,093 |
| FY2023 | $998 | $1,017 |
| FY2022 | $893 | $961 |
| FY2021 | $865 | $885 |
| FY2020 | $849 | $855 |
| FY2019 | $836 | $830 |
| FY2018 | $785 | $796 |
| FY2017 | $781 | $765 |
Related Pages
How HOME rents differ from FMRs and LIHTC limits
HOME rent limits apply specifically to rental units funded through the HOME Investment Partnerships Program. Unlike Section 8 Fair Market Rents (which set voucher payment standards) or LIHTC maximum rents (which apply to tax-credit properties), HOME limits cap what an owner of a HOME-assisted unit may charge. Each year HUD publishes both the High and Low HOME rents; the applicable limit depends on the unit's income targeting under the project's HOME agreement.