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
Membership | Leadership Meetings
Jan 13, 2026
Release of 2026 Committee and Council AppointmentsLetters for 2026 Committee and Council appointments are tentatively scheduled to be released on Friday, Feb. 6. A list of appointees will be posted on nahb.org on Monday, Feb. 9.
Legal
Jan 12, 2026
State Supreme Court to Review NAHB-Supported Case on Subcontractor LiabilityThe South Carolina Supreme Court granted a petition for certiorari review in a case with serious consequences for general contractor liability for subcontractor negligence.
Latest Economic News
Economics
Jan 13, 2026
New Home Sales Rise Year-Over-Year as Prices StabilizeThe new home sector has played an increasingly important role in meeting housing demand as resale inventory remains constrained in many regions. The latest data released today (and delayed because of the government shutdown in fall of 2025) indicate that new single-family home sales continue to reflect a stabilizing market after a period of heightened volatility.
Economics
Jan 13, 2026
Inflation Steady in DecemberInflation held steady in December, matching November’s reading, according to the Bureau of Labor Statistics (BLS) latest report. This December report was the first report to include a month-to-month figure since the government shutdown.
Economics
Jan 12, 2026
Household Real Estate Asset Values Fall in the Third QuarterThe market value of household real estate assets fell to $48.0 trillion in the third quarter of 2025, according to the most recent release of U.S. Federal Reserve Z.1 Financial Accounts. The third quarter value is 0.7% lower than the second quarter but is 1.5% higher than a year ago.