HOME 2013 Rent Limits

*updates added here

Written by Lois Churchill, Spectrum Enterprises

So, have you noticed that the 2013 HOME rent limits have been published? If not, you need to check – and quickly! They went into effect 6/1/13.

The reason HUD took so long to get them out was that they figured out the rent limits have never been lowered when income limits went down although they should have been. While income limits for existing HOME properties are “held harmless” rent limits weren’t supposed to be but have been – up until now.

You can find the explanation as well as the link to the HOME rent limits on the home page of our web site. Be aware that for those of you who have LIHTC properties with HOME units you may have to lower the maximum allowable rents for the HOME units to be in compliance with both programs!

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