New York a city in Bronx County, New York

About Affordable Housing In New York

New York has 901 low income housing communities.

Affordable Apartments in New York

33 W 33rd St
33 - 39 West 33rd Street Apartments ( the Magellan ) participates in the following programs:
Low Income Housing Tax Credit
279 W 150th St
W 150th St participates in the following programs:
Low Income Housing Tax Credit
2400 Adam Clayton Powell Jr Blvd
W 140th St North Cluster participates in the following programs:
Low Income Housing Tax Credit
251 E 119th St
Youth Action Community Housing Lp participates in the following programs:
Low Income Housing Tax Credit
1365 5th Ave
Senior Robert A. Taft participates in the following programs:
Public Housing

Understanding Affordable Housing in New York, New York

Fair Market Rents in New York

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2017 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$1,352 $1,419 $1,637 $2,102 $2,267
Area Median Income In New York

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For New York, the AMI is calculated from all households within Bronx County.

In New York, HUD calculates the Area Median Income for a family of four as $65,200.

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Low Income Housing Tax Credits in New York

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

You can identify apartment communities that participate in the program in New York by looking for the tag in the apartment list above. View Apartments.

Low Income Housing Tax Credit Income Limits

For affordable apartment communities in New York that received funding in part through the Low Income Housing Tax Credit (LIHTC) program, monthly rent cannot exceed the Tax Credit maximum rent for the community.

If your income does not exceed 60% of the Area Median Income (AMI), you may qualify to rent a unit that is subject to the rent limits established by the Low Income Housing Tax Credit program.

% of AMI 1 Person 2 Persons 3 Persons 4 Persons 5 Persons 6 Persons 7 Persons 8 Persons
50% $31,750 $36,250 $40,800 $45,300 $48,950 $52,550 $56,200 $59,800
60% $38,100 $43,500 $48,960 $54,360 $58,740 $63,060 $67,440 $71,760
Low Income Housing Tax Credit Rent Limits

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in New York is $48,960 a year, or $4,080 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $4,080 by 30% to get a maximum rent of $1,224 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $794 $850 $1,020 $1,178 $1,314 $1,450
60% $953 $1,020 $1,224 $1,414 $1,577 $1,740
Rental Assistance in New York

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

You can identify apartment communities that participate in a program that provides rental assistance by looking for the tags in the apartment list above. View Apartments.

HUD Rental Assistance Income Limits

To qualify for most rental assistance programs a renter must earn no more than 50% of the Area Median Income (AMI). In some cases, rental assistance is reserved for renters earning 30% or less of the AMI. In New York, to qualify for Section 8 assistance, a renter household containing four persons must earn $45,300 or less. For some targeted rental assistance programs, a renter household of four can’t earn more than $27,200.

It’s important to remember that in many rental assistance programs there are minimum rent regulations requiring assistance recipients to make a minimum payment of between $25 and $50 per month no matter how low their income.

% of AMI 1 Person 2 Persons 3 Persons 4 Persons 5 Persons 6 Persons 7 Persons 8 Persons
30% $19,050 $21,800 $24,500 $27,200 $29,400 $32,580 $36,730 $40,890
50% $31,750 $36,250 $40,800 $45,300 $48,950 $52,550 $56,200 $59,800
80% $50,750 $58,000 $65,250 $72,500 $78,300 $84,100 $89,900 $95,700