Dec 21, 2023 2023-21
FirstHome Census Tract and Purchase Price Limit Updates
Targeted Area Census Tracts
The U.S. Department of Treasury issued a Revenue Procedure (24-08) which updates the Targeted Area Census Tracts for use with MFA’s FirstHome program. The new census tracts will go into effect with reservations dated Monday, January 8, 2024. There are no exceptions to the effective date.
Reservations dated prior to Monday, January 8, 2024, will adhere to the current published census tract list.
Please pay close attention to the new census tracts. While new census tracts were added, several - including entire counties – were omitted from the list.
Bernalillo County - 9.05, 9.06, 9.08, 12.01, 13.00, 15.00, 20.00, 24.04, 34.00, 37.33, 47.36, 47.49, 9406.02
Curry County - 01.00, 03.05, 04.00
Doña Ana County - 04.01, 06.00, 09.01, 09.02, 14.01, 17.07, 18.05, 18.07, 18.11, 18.12, 18.13
Grant County - 9644.02
Luna County - 06.00
McKinley County - 9403.01, 9438.01, 9439.04, 9440.00, 9453.00, 9457.02, 9460.03
Otero County - 01.00, 05.02
Sandoval County - 9409.00
San Juan County - 02.07
Socorro - 9400.00
Valencia - 9703.07
Purchase Price Limits
In addition to the updated census tracts, the IRS approved an interim increase to the purchase price limits. Officials recognized the need for an increase as housing prices continue to rise. The new purchase price limits will also go into effect with reservations dated January 8, 2024. There are no exceptions to this effective date.
| County | FirstHome Non-Targeted Areas | FirstHome Targeted Areas |
|---|---|---|
| Los Alamos | $637,644 | $779,343 |
| Santa Fe | $552,078 | $674,762 |
| All Others | $507,849 | $620,705 |
Targeted Area Census Tracts and Purchase Price limits in this document are valid until the release of an updated Revenue Procedure. Always refer to MFA’s website to confirm current limits and census tracts. Limits and census tracts are subject to change without notice.
Should you have any questions, please contact an MFA homeownership representative at 505.843.6880 or by email: singlefamily@housingnm.org.
