Residents concerned about high-income requirements, rent prices of affordable housing lotteries in the Bronx

One lottery requires a household income of more than $86,000 for a one-bedroom apartment, with rent priced at $2,500 a month. Another lists a minimum income of $110,000, with rent set at $3,200.

Lindsay Tanney

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Oct 11, 2024, 10:21 AM

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Updated 71 days ago

Several affordable housing lotteries are open in the Bronx, but many residents say they are concerned about the high-income requirements and rent prices.

One lottery requires a household income of more than $86,000 for a one-bedroom apartment, with rent priced at $2,500 a month. Another lists a minimum income of $110,000, with rent set at $3,200.

“These apartments may be affordable to some, but not really to the residents of the neighborhoods where they are being put up," says real estate broker Tano Holmes.

Holmes suggested that a more localized approach to determining area median incomes could make the system fairer.

The median household income in New York City is $77,000, while in the Bronx, it’s just under $47,000, according to U.S. Census data.

Holmes also pointed out more affordable options, like NYCHA housing or Section 8 vouchers.

News 12 reached out to Housing Preservation Development for a statement. Below is information from a spokesperson:

HPD finances homes for New Yorkers at a wide range of income levels. Given the intense need among low-income New Yorkers, the City prioritizes housing production for the lowest-income households and those exiting shelters whenever possible.
We encourage all New Yorkers to apply to affordable housing lotteries not only in their neighborhoods but across all five boroughs, ensuring that the options align with their household income levels. Currently, there are 28 different housing lottery opportunities listed on Housing Connect.
Beyond the 9 housing lotteries available in the Bronx, there are additional extremely-low, very low, and low-income apartments across the city that New Yorkers can apply for, including 420 Carroll Street Apartments, Belmont Cove in the Bronx, Weeksville Place, and 2667 Fulton Street Apartments, among others.
New housing lotteries are being added to Housing Connect almost daily. We encourage New Yorkers to check back regularly and apply to new opportunities that fit their household income levels.
Some apartments in the Bronx listed on Housing Connect are within buildings where developers have utilized the 421-a tax exemption. This program ensures long-term affordability for New Yorkers by stabilizing rent increases.
It’s important to note that the Area Median Income (AMI) seen on the Housing Lottery is set by HUD for the entire New York Metropolitan area, not by HPD.