FHA Increases Loan Limits for 2024
The Federal Housing Administration (FHA) on Nov. 28 announced its loan limits for 2024. The nationwide rise in median home prices indicates most buyers across the country will see increases.
The FHA floor will increase from $472,030 to $498,257 for single-family home loans. The floor amount is the lowest the FHA loan limit can be for any area of the country. FHA’s ceiling loan limits, the maximum loan amount the agency will insure, will increase from $1,089,300 to $1,149,825 for a single-family property. The ceiling rises even higher to $1,724,725 in Alaska, Hawaii, Guam and the U.S. Virgin Islands.
The following table lists the 2024 FHA loan limits for low- and high-cost areas:
| Property Size | Low-Cost Area “Floor” | High-Cost Area | Alaska, Hawaii, Guam and U.S. Virgin Islands “Ceiling” |
| One-Unit | $498,257 | $1,149,825 | $1,724,725 |
| Two-Units | $637,950 | $1,472,250 | $2,208,375 |
| Three-Units | $771,125 | $1,779,525 | $2,669,275 |
| Four-Units | $958,350 | $2,211,600 | $3,317,400 |
The new loan limits will apply to all loans assigned FHA case numbers on or after Jan. 1, 2024. The 2024 FHA loan limits by Metropolitan Statistical Area (MSA) or county can be reviewed on FHA’s loan limits page.
FHA also increased the loan limits for its Home Equity Conversion Mortgage (HECM), or reverse mortgage program, to $1,149,825 effective Jan. 1, 2024. The HECM program regulations do not allow loan limits to vary by MSA or county, so this limit applies to all mortgages regardless of location.
View the HUD press release for more details.
Latest from NAHBNow
Economics
Feb 13, 2026
Existing Home Sales in January Plunged to Lowest Level Since 2024Existing home sales in January fell to lowest level since August 2024 as tight inventory continued to push home prices higher and winter weather weighed on sales activity.
Economics
Feb 12, 2026
The Biggest Challenges Expected by Home Builders in 2026According to the latest NAHB/Wells Fargo Housing Market Index, 84% of home builders felt the most significant challenge builders faced in 2025 was high interest rates and 65% anticipate interest rates will remain a problem in 2026.
Latest Economic News
Economics
Feb 13, 2026
Inflation Eased in JanuaryInflation eased to an eight-month low in January, confirming a continued downward trend. Though most Consumer Price Index (CPI) components have resolved shutdown-related distortions from last fall, the shelter index will remain affected through April due to the imputation method used for housing costs. The shelter index is likely to show larger increases in the coming months.
Economics
Feb 12, 2026
Existing Home Sales Retreat Amid Low InventoryExisting home sales fell in January to a more than two-year low after December’s strong rebound, as tight inventory continued to push home prices higher and winter storms weighed on activity. Despite mortgage rates trending lower and wage growth outpacing price gains, limited resale supply kept many buyers on the sidelines.
Economics
Feb 12, 2026
Residential Building Worker Wages Slow in 2025 Amid Cooling Housing ActivityWage growth for residential building workers moderated notably in 2025, reflecting a broader cooling in housing activity and construction labor demand. According to the latest data from the U.S. Bureau of Labor Statistics (BLS), both nominal and real wages remained modest during the fourth quarter, signaling a shift from the rapid post-pandemic expansion to a slower-growth phase.