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  • Writer's pictureThe San Juan Daily Star

HUD raises income limits for aid-eligible island homebuyers

By The Star Staff

Housing Secretary William Rodríguez Rodríguez announced Wednesday that the U.S. Department of Housing and Urban Development (HUD) raised the income limits established to receive various types of federal aid, which will result in more people being able to obtain assistance for housing.

The increase comes after repeated calls from different sectors in Puerto Rico and the efforts of Gov. Pedro Pierluisi Urrutia along with HUD Secretary Marcia Fudge, who after her visit to the island promised to review the Table of Income Limits used by the local government to administer assistance programs.

“We appreciate the efforts of Secretary Fudge and this new update that allows us to expand the benefit to more people,” Rodríguez said. “With this new outlook, we renew our commitment to continue working for those in need and thus complete the total recovery of our island. The 2023 table increases the income limits we had over the past year, the effect of which translates into more assistance opportunities for families who need to buy or live in a safe and dignified home.”

The new version of the Table of Income Limits for Puerto Rico in 2023 will have effects on the Home Buyer Assistance (HBA) program, which is administered by the island Housing Department in collaboration with the Housing Finance Authority. In addition, the changes have an effect on the Public Housing Administration and the Section 8 voucher program.

The 2023 version of the Table of Income Limits, available on the website, increases the median household income for an individual to $50,400 annually, up from last year’s $46,650 limit. This estimate increases as the family composition increases to $95,050 for a family of eight.

“This news is particularly important at this time because just a few weeks ago we increased the HBA budget by injecting an additional $200 million so that more Puerto Ricans can buy their own home with up to $60,000 in aid,” Rodriguez said.

The secretary’s remarks also came after announcing that more than 6,000 people have already purchased a home with the assistance of the program, with over $200 million having been disbursed in the island real estate sector.

The HBA program, launched in 2019, provides funding to cover costs related to the purchase of a property. Assistance is provided to low- and moderate-income individuals who want to be buyers of a primary residence.

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