Affordable Housing In New York City
2,471 Low Income Apartment Communities In New York City
Housing Authorities that serve New York City
|New York City Deptartment of Housing Preservation and Development||Section 8 Housing Choice Voucher (HCV)|
|New York State Homes and Community Renewal||Section 8 Housing Choice Voucher (HCV)|
|New York City Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing|
Other Housing Authorities located in New York City
|New York State Housing Finance Agency||Section 8 Housing Choice Voucher (HCV)|
Guide To Affordable Housing in New York City, New York
According to federal housing data and AffordableHousingOnline.com research, there are 2,471 low income housing apartment communities offering 372,897 affordable apartments for rent in New York City, New York. New York City features 257,049 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 115,167 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in New York City.
New York City, NY Affordable Housing Snapshot
|Total Affordable Apartment Properties||2,471|
|Total Low Income Apartments||372,897|
|Total Housing Units with Rental Assistance||257,049|
|Percentage of Housing Units Occupied By Renters||68.16%|
|Average Renter Household Size||2.55|
|Average Household Size||2.65|
|Median Household Income||$53,373 ±$269|
|Median Rent||$1,255 ±$4|
|Percentage Of Renters Overburdened||51.36% ± 0.28pp|
Population and Household Demographics
New York City is a City in New York with a population of 8,426,743. There are 3,113,535 households in the city with an average household size of 2.65 persons. 68.16% of households in New York City are renters.
Income and Rent Overburden in New York City
The median gross income for households in New York City is $53,373 a year, or $4,448 a month. The median rent for the city is $1,255 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In New York City, a household making less than $4,183 a month would be considered overburdened when renting an apartment at or above the median rent. 51.36% of households who rent are overburdened in New York City.1
Area Median Income In New York City
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.
In New York City, HUD calculates the Area Median Income for a family of four as $0
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.
Rental Assistance in New York City
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.
Low Income Housing Tax Credits in New York City
The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.
From 1988 to 2012, 1,594 low income apartment communities containing 81,020 rental apartments have been constructed and made affordable to low income persons in New York City by the Low Income Housing Tax Credit Program.