Affordable Housing What is affordable housing?

Affordable Housing Housing that is affordable! What does affordable mean? What percent of your income is spent on rent? 10%? 30%? 50%? 70%?

Affordable Housing 10%? 30%? - The US government says that affordable housing is any housing where families spend no more than 30% of their household income on 50%? 70%?

Affordable Housing Area Median Income – the middle of the income distribution in a particular area. For NYC, it is the five boroughs $5,000,000 $4,000,000 $1,000,000 $200,000 $100,000 $50,000 $30,000 $20,000 $15,000 $10,000 $5,000 The current area median income in NYC for a family of four is $86,300.

How to Find Affordable Housing Section 8 voucher Provides assistance to eligible low- and moderate-income families to rent housing in the private market. Eligibility for this program is based on a family's gross annual income and family size.

How to Find Affordable Housing Where to get Section 8 voucher? New York City Housing Authority – NYCHA New York City Housing Preservation & Development – HPD New York State Homes and Community Renewal – HCR

Types of Affordable Homes NYCHA Public Housing – rental Mitchell Lama – rental and cooperative housing Private homes/buildings - rental

Rent Regulation Rent Control Rent Stabilized

Rent Regulation Rent Control Tenants are protected from rent increases and eviction without just cause. There are currently fewer than 40,000 rent controlled units in NYC.

Rent Regulation Rent Stabilized A set of laws providing rent and eviction projections to 2.5 million tenants who live in privately owned apartment buildings in NYC and surrounding suburban counties. Rent can only increase a small percentage each year.

Rent Regulation Year 1970 1981 1991 2002 2011 Rent-controlled 1,328,000 285,555 124,411 59,324 38,374 Rent-stabilized 350,000 952,832 1,010,584 1,042,397 986,840