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HPD/HDC Marketing: Asset Limits and Property Ownership Policies
Asset Limits
There is a limit to the amount of total assets an applicant household may have and still remain eligible for
affordable housing.
Household assets include financial assets such as savings accounts, checking accounts, trusts,
investment assets (stocks, bonds, etc.), cash savings, miscellaneous investment holdings, etc. (Balances
in specifically designated retirement funds and college savings accounts are not subject to the asset limit,
but are counted when calculating income from assets.)
The entire market value of any interest in real property is subject to the asset limit (e.g. residential,
commercial, land, shares in a co-op, etc.). For other capital investments, only the applicant’s equity in the
investment is subject to the asset limit.
Applicants to Rental Units
The household asset limit for rental units is equal to the maximum income limit for a four (4)-person
household at the area median income (AMI) level for which the unit is designated.
Asset Limits for Rental Units
Effective May 15, 2023
AMI Level Asset Limit
30% $42,360
40% $56,480
50% $70,600
60% $84,720
70% $98,840
80% $112,960
90% $127,080
100% $141,200
115% $162,380
125% $176,500
130% $183,560
165% $232,980
175% $247,100
Applicants to Homeownership Units
The household asset limit for all homeownership units is equal to the HUD maximum income limit for a
four (4)-person household at 175% of the Area Median Income (AMI).
Effective May 15, 2023, the household asset limit for applicants to homeownership units is $247,100.
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Property Ownership
Applicants to Rental Units
No member of the applicant ‘s household may own residential property, including shares in a co-op, in or
within one hundred (100) miles of New York City limits.
Applicants to Homeownership Units
No member of the applicant’s household may own or have previously purchased, any interest in
residential real property.
For the full policies, see HPD-HDC Marketing Handbook, Section 5-5 B and C.
