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 — Springfield, MA HUD Metro FMR Area
FMRs · Income Limits · LIHTC Rents
FY2022 HOME Rent Limits — Springfield, MA HUD Metro FMR Area
| Limit Type | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| High HOME Rent | $727 | $874 | $1,094 | $1,353 | $1,482 |
| Low HOME Rent | $823 | $941 | $1,058 | $1,176 | $1,271 |
High HOME Rent History (2-Bedroom)
| Fiscal Year | High HOME 2BR | Low HOME 2BR |
|---|---|---|
| FY2022 | $1,094 | $1,058 |
| FY2021 | $1,129 | $946 |
| FY2020 | $1,115 | $961 |
| FY2019 | $1,061 | $998 |
| FY2018 | $1,117 | $908 |
| FY2017 | $1,057 | $900 |
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.