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USDA Rural Development Inform About New Income Limits For Their Single Family Housing Program in Puerto Rico

Name
Miguel Ramirez
Email
miguel.ramirez@usda.gov
City
San Juan
Release Date

San Juan, Puerto Rico, September 13, 2024 –USDA Rural Development State Director for Puerto Rico, Maximiliano J. Trujillo-Ortega, that USDA Rural Development has issued a new income limit table for the archipelago. This change allows more families to qualify for our Housing Programs.

State Director Trujillo Ortega stated, “the Biden-Harris administration has focused on the needs in Puerto Rico and USDA Rural Development has implemented changes that improves the opportunities of communities in rural areas to thrive, whether through infrastructure, business or housing investments and loans.” Since 2023, the housing income eligibility has been raised from $22,600 in certain areas to $39,550 across the island. “Today, the income eligibility limit has increased once more to $43,700 for a family of four and $57,650 for a five-to-eight-person household.”  

This important USDA change make it easier to apply for the agency’s Rural Housing Programs. This increase continues the commitment of USDA RD to help our citizens expand their opportunities to buy, build or repair homes at a time when low-income families are experiencing challenges in finding an affordable home on the archipelago.

“Through our loans, grants, and loan guarantee programs, Rural Developments helps rural families attain homeownership and improve quality of life in their local communities. By expanding access to safe, affordable housing and helping to repair and modernize homes, we can strengthen Puerto Rican families in creating a pathway to generational wealth.” Said USDA Rural Housing Service Administrator Joaquin Altoro.

The Agency has various Rural Housing Programs:

  1. Rural Home Loans, known as RH 502 Direct Loan Program, help low-and-very-low-income applicants buy a decent, safe, and sanitary housing in eligible rural areas by providing loans and payment assistance to increase their applicant’s repayment ability.
  2. Single Family Housing Repair Loan and Grants, known as RH 504 Home Repair program, provides loans to low and very-low-income homeowners to repair, improve, or modernize their homes. 
  3. Rural Disaster Home Repair Grant Program provides repair grants for homes impacted by a natural disaster and in an area designated as a Presidentially Declared Disaster, such as Fiona. This program, available until September 30th 2024, can provide a grant up-to $42,920 it if meet low and very low-income eligibility and other conditions.

Under the Biden-Harris Administration, Rural Development provides loans and grants to help expand economic opportunities, create jobs, and improve the quality of life for millions of Americans in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety, and health care; and high-speed internet access in rural, tribal, and high-poverty areas. For more information, visit www.rd.usda.gov/pr. 

If you'd like to subscribe to USDA Rural Development updates, visit our GovDelivery subscriber page. You can follow us at our X Account @RD_PuertoRico. 

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