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 — New York-Newark-Edison, NY-NJ-PA HUD Metro FMR Area
FMRs · Income Limits · LIHTC Rents
FY2024 HOME Rent Limits — New York-Newark-Edison, NY-NJ-PA HUD Metro FMR Area
| Limit Type | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| High HOME Rent | $1,712 | $1,795 | $1,795 | $1,795 | $1,795 |
| Low HOME Rent | $966 | $1,105 | $1,243 | $1,381 | $1,491 |
High HOME Rent History (2-Bedroom)
| Fiscal Year | High HOME 2BR | Low HOME 2BR |
|---|---|---|
| FY2024 | $1,795 | $1,243 |
| FY2023 | $1,741 | $1,205 |
| FY2022 | $1,689 | $1,169 |
Related Pages
- Full FMR profile — New York-Newark-Edison, NY-NJ-PA HUD Metro FMR Area
- Income limits — New York-Newark-Edison, NY-NJ-PA HUD Metro FMR Area
- LIHTC maximum rents — New York-Newark-Edison, NY-NJ-PA HUD Metro FMR Area
- FMR history — New York-Newark-Edison, NY-NJ-PA HUD Metro FMR Area
- Section 8 eligibility calculator
- All FMR areas in NY
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.