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)

The median income for all cities across the country is defined each year by U.S. Department of Housing and Urban Development (HUD). The 2017 AMI for the New York City region is $85,900 for a three-person family (100% AMI).

2017 New York City Income Limits by Household Size

Family Size30% of AMI40% of AMI50% of AMI60% of AMI70% of AMI80% of AMI100% of AMI130% of AMI165% of AMI
1 $20,040 $26,720 $33,400 $40,080 $46,760 $53,440 $66,800 $86,840 $110,220
2 $22,920 $30,560 $38,200 $45,840 $53,480 $61,120 $76,400 $99,320 $126,060
3 $25,770 $34,360 $42,950 $51,540 $60,130 $68,720 $85,900 $111,670 $141,735
4 $28,620 $38,160 $47,700 $57,240 $66,780 $76,320 $95,400 $124,020 $157,410
5 $30,930 $41,240 $51,550 $61,860 $72,170 $82,480 $103,100 $134,030 $170,115

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

2017 New York City Affordable Monthly Rents by Rental Tier*

Unit Size30% of AMI40% of AMI50% of AMI60% of AMI70% of AMI80% of AMI100% of AMI130% of AMI
studio $331 $475 $618 $761 $947 $1,091 $1,377 $1,807
1 BR $426 $605 $784 $963 $1,196 $1,375 $1,733 $2,270
2 BR $521 $736 $951 $1,166 $1,445 $1,660 $2,089 $2,733
3 BR $594 $843 $1,091 $1,339 $1,661 $1,910 $2,406 $3,150

*Assumes tenant pays electricity, no electric stove. Rents 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. All rents are subject to program requirements. Refer to specific term sheets / unit advertisements for more detailed information.

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