Low Income Apartments and Affordable Housing For Rent in New York City, NY (2024)

What HUD offices serve New York City, New York?

Public Housing Agencies operate federally assisted affordable housing programs atlocal levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within theirjurisdiction.

Go to theNew YorkPublic Housing and Low-Income Apartments Waiting Lists page for openings near New York City.

How many renters live in New York City, New York?

The City of New York City has 8,335,897people living in 3,373,039 households.

There are 5,183,158 renters living in2,271,037 renter households in thisCity. Renters make up 62.18percent of the population living in New York City.

What is the rental market like in New York City, New York?

There are an estimated 3,679,063 housing units in theNew York City area. Of these, 2,364,107 units are rentalhomes, making up 64 percent of the housing market. Forevery renter household in New York City, New York, there are1 rental units.

What is the vacancy rate for rentals in New York City?

The rental vacancy rate in New York City is 3 percent.This is alower than averagevacancy rate.When rental vacancy rates are low there are fewer available units. Rents tend to be higher as morepeoplecompete for scarce housing.

How many rental units are in New York City for each bedroom size?

A large number of apartments in New York City have two or fewer bedrooms. Seniors and youngprofessionalsespecially may have more success finding an apartment that meets their needs.

How many renter households in New York City are overburdened by housing costs?

Among renter households in this market, 49percent havehousing cost burden. Further, 28percent of households are extremely rent overburdened. When renters pay too much for their housing, itleaveslittle money for other necessities like food, clothes, or medicine.

The federal government says that renters arecost-burdened if they pay more than a third of their monthly income for rent and utilities.

How many units are rented at Fair Market Rent (FMR) in New York City?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s FairMarket Rent. Markets with a large share of units above FMR tend to have longer search times to find aqualified unit, while those with a large share of units below FMR tend to have more choices and shortersearch times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

How many affordable rental units are in New York City?

There are a variety of federal affordable housing programs serving households inNew York City, New York including the following:

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 andutilities.

Low Rent Apartments in New York City, New York

There are 148,164 rent subsidized apartments that do notprovide 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 holdercontributes $400 towards rent inNew York City.

The maximum amount a voucher would pay on behalf of a low-income tenant in New York City, New York fora two-bedroom apartment is between $2,477 and $3,027.

Sourced from federal housing data and AffordableHousingOnline.comresearch.