Want to Buy a House but Don’t Think You Can Afford To? We Can Help
It can be expensive to live and work in New Jersey. The average cost of owning or renting a home here is higher than in almost any other state in the country. If housing costs are eating up a bigger and bigger chunk of your household income, then the Affordable Homes program may be right for you.
The Affordable Homes program allows eligible candidates to apply for the opportunity to purchase deed-restricted homes – typically 600 to 1,200 square foot condos or townhomes. Housing Partnership administers Affordable Homes in:
- Hanover Township
- Mountain Lakes
- Morris Township
- Roxbury
- Randolph
- Kinnelon (Age Restricted 55+)
- Mendham Township
- Madison
- Sparta
- Washington Township
The program is not limited to first time homebuyers; it also helps:
- Families with low and modest incomes
- Those who have previously owned homes
- Seniors who are downsizing from larger homes
- Young adults coming out of college
Income Limits do apply based household size:
Region 2: MORRIS, UNION , ESSEX & WARREN COUNTIES
HH SIZE | LOW INCOME MAX*; | MOD INCOME MAX* |
---|---|---|
1 | $40,317 | $64,507 |
2 | $46,077 | $73,723 |
3 | $51,836 | $82,938 |
4 | $57,596 | $92,154 |
5 | $62,204 | $99,526 |
6 | $66,811 | $106,898 |
*Income limits may vary by municipality.
Region 1: SUSSEX, BERGEN, HUDSON & PASSAIC COUNTIES
HH SIZE | LOW INCOME MAX*; | MOD INCOME MAX* |
---|---|---|
1 | $40,477 | $64,764 |
2 | $46,260 | $74,016 |
3 | $52,042 | $83,267 |
4 | $57,825 | $92,519 |
5 | $62,451 | $99,921 |
6 | $67,077 | $107,323 |
*Income limits may vary by municipality.