December 14th, 2023

Mayor Ravi S. Bhalla and the City of Hoboken today launched the Housing Improvement Program (HIP), an initiative aimed at supporting low-to-moderate income residents in making essential repairs to their homes. This program is made possible through funding from the City's Affordable Housing Trust Fund and is designed to empower eligible residents to address critical repair needs within their homes, ensuring the safety and well-being of Hoboken community members.  Qualified applicants may receive up to $24,000 in repair funding, which will be provided as a no-interest, 10-year forgivable loan. These funds can be utilized for a variety of major systems that require replacement or substantial repair, including roofs, foundations, heating, electrical, windows, insulation, plumbing, and other essential components of a home.
To be eligible for the program, applicants must be residents of Hoboken, and their total gross annual household income must fall below the income limit for their household size. Income limits are updated annually.
Current income limits:

• Households of one: income limited to $67,431 per year.
• Households of two: income limited to $77,064 per year.
• Households of three: income limited to $86,697 per year.
• Households of four: income limited to $96,329 per year.
• Households of five: income limited to $104,036 per year.
• Households of six: income limited to $111,742 per year.
• Households of seven: income limited to $119,449 per year.
• Households of eight: income limited to $127,155 per year.
  

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