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Directory of NYC Housing Programs

HOME Investment Partnership (HOME)

Created under the Cranston-Gonzalez National Affordable Housing Act, the HOME Investment Partnership Program provides funds to finance activities that build, buy, and rehabilitate affordable housing for rental or homeownership, or to provide direct rental assistance to low-income people. U.S. Department of Housing and Urban Development (HUD) allocates funds to New York State Homes and Community Renewal (HCR) and New York City Department of Housing Preservation and Development (HPD) for eligible development projects that include: rental projects, homeownership assistance projects, and tenant-based rental assistance projects. Rental projects assisted by the HOME Program are required to remain affordable to low-income households for an applicable regulatory period, the term of which is based on several factors, including the amount of the HOME subsidy and the type of activity funded.

Program Information Help Icon

  • Alternative Name(s): HOME Program
  • Supply/Demand: Supply, Demand
  • Category: Land and Financing, Rental Subsidies and Assistance
  • Scale: Very Large Scale (over 10,000 units)
  • Timeframe: 1990 - Present
  • Occupancy tenure: Rental, Homeownership
  • Construction Type: New Construction, Rehabilitation
  • Building Type: Multi-family, One- to Four-family
  • Developers/Owners: Non-profit, For-profit
  • Income Restrictions: For rental housing, at least 90 percent of households must have an annual income of up to 60 percent of Area Median Income (AMI). The remaining 10 percent of rental households must have an annual income of up to 80 percent of AMI. For homebuyers and homeowners, households must have an annual income of up to 80 percent of AMI.

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