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 — Craven County, NC HUD Metro FMR Area
FMRs · Income Limits · LIHTC Rents
FY2024 HOME Rent Limits — Craven County, NC HUD Metro FMR Area
| Limit Type | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| High HOME Rent | $928 | $935 | $1,228 | $1,418 | $1,418 |
| Low HOME Rent | $726 | $830 | $933 | $1,037 | $1,121 |
High HOME Rent History (2-Bedroom)
| Fiscal Year | High HOME 2BR | Low HOME 2BR |
|---|---|---|
| FY2024 | $1,228 | $933 |
| FY2023 | $1,092 | $850 |
| FY2022 | $984 | $802 |
| FY2021 | $947 | $718 |
| FY2020 | $929 | $745 |
| FY2019 | $894 | $727 |
| FY2018 | $917 | $676 |
| FY2017 | $828 | $607 |
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.