N.H. Rev. Stat. Ann. § 204-C: § 204-C:22
Rent Levels.
Operative Text
With respect to mortgage loans made by the authority under RSA 204-C:15, the authority shall, pursuant to rules adopted by it, make the following initial rental determinations for the dwelling units included in rental multi-family housing financed under this chapter: I. The rent or carrying charge to be charged to eligible persons and families other than elderly and low income persons and families, which together with subsidies, if any, shall not be lower than the economic cost of such housing and be sufficiently high to achieve and maintain a sound development; and II. The rent or carrying charge to be charged to elderly and low income persons and families which rent shall be sufficiently low in the judgment of the authority for at least a reasonable number of the dwelling units, but in no event fewer than 1/8 of such units, to be provided by such housing to enable such persons and families to occupy such units without the expenditure of more than 30 percent of their annual income for basic shelter cost, including the additional cost, if any, of heat, hot water, and other utilities, except telephone; provided, however, that, if necessary to make the project financially feasible, such percentage of annual income may be increased to 32 percent; and provided further that, if, in order to meet federal requirements or to obtain federal assistance, a different percentage of annual income shall be required, then such percentage of annual income shall be increased or based on the federal requirement, if applicable.
New Hampshire Revised Statutes § 204-C:22 establishes how the New Hampshire Housing Finance Authority sets initial rents in multi-family rental housing it finances. For general-income residents, rents must be set high enough to cover the economic cost of the housing and keep the development financially sound. For elderly and low-income residents, rents must be low enough that at least one-eighth of all units are affordable to households spending no more than 30 percent of annual income on basic shelter costs—though that threshold may rise to 32 percent if financial feasibility requires it, or to a different percentage if federal requirements demand it.
Plain English — not legal advice.
Operators of multi-family rental housing financed under § 204-C:22 are generally expected to set rents in accordance with the Authority's rules, ensuring that market-rate units cover economic costs while reserving at least one-eighth of units for elderly and low-income households at income-based rents. Compliant operators track the 30-percent-of-income affordability threshold for those reserved units and document any adjustments made to reach the 32-percent ceiling or to satisfy applicable federal requirements. Maintaining records of how initial rental determinations were made and how they align with the Authority's adopted rules is a standard practice for properties subject to this provision.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Under § 204-C:22, tenants who are elderly or low-income living in Authority-financed housing have a right to benefit from rent levels designed to keep basic shelter costs—including heat, hot water, and other utilities except telephone—within a defined share of their annual income. At least one-eighth of units in a covered development must be made available at these income-based rents, and tenants who believe their rent does not conform to this requirement may raise that concern with the New Hampshire Housing Finance Authority directly. Tenant-rights organizations familiar with state housing finance programs can help residents understand whether a particular development is subject to § 204-C:22 and what options may be available to them.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated October 20, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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