9/17/2023 0 Comments Nyc housing connectThe NYC housing lottery will calculate your rent based on your area median income (AMI) and your own personal income. In other words, half of the people in your geographical location earn above this income while the other half earn below that number. These prices are found using your area median income (AMI). Fortunately the process for all the various lotteries now takes place through one platform, known as NYC Housing Connect, making it easier to apply.Īffordable housing as defined by the Department of Housing Preservation and Development (HPD) simply means a monthly rent costing no more than 30% of the individual’s income. In an effort to provide a fair chance at affordable housing for New Yorkers, the city works with the Department of Housing Preservation and Development (HPD) and real estate groups throughout the city to make affordable housing available to those who “win” various housing lotteries. As no surprise to New Yorkers, housing prices in NYC are out of reach for many lower income residents.
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