Rent Limits 2014

HOME Program rent limits updated annually

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CDBG Program

For CDBG assisted rentals, the High HOME rent limits published below are considered affordable rents. 

For rental rehabilitation projects with CDBG assistance, the following restrictions apply:
  1. All assisted single unit structures must be occupied by low/moderate income households
  2. An assisted two-unit structure (duplex) must have at least one unit occupied by a low/moderate income household
  3. An assisted structure containing more than two units must have at least 51% of the units occupied by low/moderate income households
For new construction of non-elderly, multi-family rental structures, the following restrictions apply:
  1. At least 20% of the units must be occupied by low/moderate income households
  2. Where low/moderate income occupancy falls between 20% and 50%, the CDBG portion of total development costs may not be greater than the portion of units occupied by low/moderate income households

HOME Program

Number of Bedrooms
0 1 2 3 4 5 6
"Low" HOME Rents
$558 $631 $778 $900 $1,003 $1,108 $1,211
"High" HOME Rents
$558 $631 $814 $1,061 $1,203 $1,382 $1,495

 

All HOME-assisted rental units must have rents that do not exceed the High HOME Rent Limit. In addition, for developments of five units or more, not less than 20% of HOME-assisted units must be occupied by very low income families and be charged rents that do not exceed the Low HOME Rent Limit found in the above table. However, if the project receives additional subsidy under another program with stricter restriction guidelines (i.e., federal or state project-based rental assistance or Low Income Housing Tax Credits), the maximum rent is the rent allowed under the stricter program.If any utilities are paid directly by the tenant, the maximum rent must be reduced by a utility allowance similar to the procedures for making such adjustments under Section 8 of the United States Housing Act of 1937. In other words, the total rent charged to the tenant PLUS the estimated utilities paid by the tenant cannot exceed the above rent limits.

In addition, the HOME Program also requires the unit to remain affordable for a specific period of time, depending on the amount of HOME dollars invested per unit. The table below details these requirements. Tenant rent and income information will need to be verified and submitted to CDA annually to remain in compliance.

 

Rehabilitation or Acquisition of Existing Housing
(in $ amount of HOME funds invested per unit)

Minimum Affordability Period
(in years)

Under $15,000

5

$15,000 to $40,000

10

Over $40,000 or rehabilitation involving refinancing

15

New Construction of Rental Housing

Any amount

 20

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