HUD recently released the FY 2025 rent and income limits for the HOME Investment Partnerships (HOME) Program and the National Housing Trust Fund (NHTF) Program. You can find the new limits on Minnesota Housing’s Multifamily Rent and Income Limits webpage. Per HUD, these limits have an effective date of June 1, 2025, and cannot be used until this date. You must continue using the FY 2024 income limits until June 1, 2025.
Program regulations do not require properties to increase rents to match the new limits. However, if FY 2025 income or rent limits have decreased from last year’s limits, the new, lower limits must be used starting June 1, 2025. Note that owners are not required to lower rents below those in effect at the time of project commitment.
Questions? Contact Tere Hopponen at [email protected] or your assigned compliance officer.
