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Exhibit 12.1

HOVNANIAN ENTERPRISES, INC.
Statement setting forth computation showing the ratio of earnings
to fixed charges, including wholly owned
mortgage banking and finance subsidiaries
(Dollars in Thousands)

		Six Months Ended April 2005 Actual		Year Ended October 2004 Actual		Year Ended October 2003 Actual		Year Ended October 2002 Actual		Year Ended October 2001 Actual		Year Ended October 2000 Actual
Net Income		$	187,618	$	348,681	$	257,380	$	137,696	$	63,686	$	33,163
Add:
Federal and State Income Taxes			118,815		201,091		154,138		88,034		42,668		18,655
Interest Expensed Res & Comm			36,925		75,042		63,658		60,371		51,446		34,956
Interest Expensed Mortgage & Finance Subsidiaries			2,412		2,765		2,487		2,337		3,180		2,491
Amortization of Bond Prepaid Expenses			709		10,999		2,978		2,119		976		670
Amortization of Bond Discount			309		571		514		441		367		30
	Total Earnings	$	346,788	$	639,149	$	481,155	$	290,998	$	162,323	$	89,965
Fixed Charges:
Interest Incurred Res & Comm		$	43,948	$	87,674	$	66,332	$	57,406	$	47,272	$	38,878
Interest Incurred Mortgage & Finance Subsidiaries			2,412		2,765		2,487		2,337		3,180		2,491
Amortization of Bond Prepaid Expenses			709		10,999		2,978		2,119		976		670
Amortization of Bond Discount			309		571		514		441		367		30
	Total Fixed Charges	$	47,378	$	102,009	$	72,311	$	62,303	$	51,795	$	42,069
Ratio			7.3		6.3		6.7		4.7		3.1		2.1

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HOVNANIAN ENTERPRISES, INC. Statement setting forth computation showing the ratio of earnings to fixed charges, including wholly owned mortgage banking and finance subsidiaries (Dollars in Thousands)