If an NSP grantee uses HOME standards to set its affordable rents, how should the grantee calculate rent for multifamily rental housing built entirely for households at or below 50 percent AMI?

Date Published: October 2012

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The NSP program adopted 24 CFR Part 92.252(a) of the HOME rental requirements, and therefore the maximum HOME rents that can be charged are the lesser of the following rents:

  • The fair market rent for existing housing for comparable units in the area as established by HUD under 24 CFR Part 888.111; or
  • A rent that does not exceed 30 percent of the adjusted income of a family whose annual income equals 65 percent of AMI, as determined by HUD, with adjustments for number of bedrooms in the unit.

View the HOME program rent limits.

Tags: NSP Rental Housing Development

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