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There are 148,526 low-income apartments in New York City that offer reduced rents to eligible households. Low-income rents in New York City, New York can range from $950 to $3,530 depending on the number of bedrooms.
Rental assistance programs support 253,616 low-income homes in New York City where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $447 towards rent each month.
Affordable rent data for some communities last confirmed on June 28th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving New York City, New York
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
| Housing Authority | Programs |
|---|---|
| New York City Department of Housing Preservation and Development | Section 8 Housing Choice Voucher (HCV) |
| New York State Homes and Community Renewal | Section 8 Housing Choice Voucher (HCV); Family Self-Sufficiency; Homeownership |
| New York City Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing; Veteran Affairs Supportive Housing (VASH); Mainstream Voucher |
New York City, New York Affordable Housing Data
Income Based Apartments in New York City, New York
New York City features 253,616 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in New York City, New York
There are 148,526 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in New York City.
Housing Choice Vouchers in New York City, New York
On average, Section 8 Housing Choice vouchers pay New York City landlords $1,100 per month towards rent. The average voucher holder contributes $400 towards rent in New York City.
The maximum amount a voucher would pay on behalf of a low-income tenant in New York City, New York for a two-bedroom apartment is between $2,477 and $3,027.
2024 New York City, New York Fair Market Rents and Housing Choice Voucher Payment Standards
Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.
| Studio | One BR | Two BR | Three BR | Four BR | |
|---|---|---|---|---|---|
| New York City, New York Fair Market Rent | $2,386 | $2,451 | $2,752 | $3,434 | $3,700 |
| New York City, New York Payment Standard Range | $2,147 to $2,625 | $2,206 to $2,696 | $2,477 to $3,027 | $3,091 to $3,777 | $3,330 to $4,070 |
Sourced from federal housing data and AffordableHousingOnline.com research.
New York City, NY Affordable Housing Snapshot
| Total Affordable Apartment Properties | 2,636 |
|---|---|
| Total Low Income Apartments | 402,760 |
| Total Housing Units with Rental Assistance | 253,616 |
| 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 |
| Total Population | 8,426,743 |
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.
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.
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