What Is Affordable Housing?

Affordable Housing

Housing is considered affordable when a household spends no more than 30% of its income on rent. Housing New York aims to create and preserve housing for people earning a wide range of incomes.

Area Median Income (AMI)

AMI is defined each year by U.S. Department of Housing and Urban Development (HUD) for all cities across the country. The 2016 AMI for the New York City region is $81,600 for three-person family (100% AMI).

2016 New York City AMI

Family Size30% of AMI40% of AMI50% of AMI60% of AMI80% of AMI100% of AMI130% of AMI165% of AMI
1 $19,050 $25,400 $31,750 $38,100 $50,750 $63,500 $82,550 $104,775
2 $21,800 $29,000 $36,250 $43,500 $58,000 $72,500 $94,250 $119,625
3 $24,500 $32,640 $40,800 $48,960 $65,250 $81,600 $106,080 $134,640
4 $27,200 $36,240 $45,300 $54,360 $72,500 $90,600 $117,780 $149,490
5 $29,400 $36,160 $48,950 $58,740 $78,300 $97,900 $127,270 $161,535

Source: U.S. Department of Housing and Urban Development

2016 New York City Affordable Monthly Rents by AMI

Unit Size30% of AMI40% of AMI50% of AMI60% of AMI80% of AMI100% of AMI130% of AMI165% of AMI
studio $328 $464 $600 $736 $1,049 $1,321 $1,729 $2,205
1 BR $419 $589 $759 $929 $1,320 $1,660 $2,170 $2,765
2 BR $509 $713 $917 $1,121 $1,591 $1,999 $2,611 $3,325
3 BR $582 $817 $1,053 $1,289 $1,831 $2,302 $3,009 $3,833

Assumes tenat pays electricity. Rents are approximate and have been calculated at 30% of annual gross income of the target AMI. For low-income bands, rents are based on 30% of 27%, 37%, 47%, and 57% of AMI. Studio rents are based on a household factor of 0.6.

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