New York City, NY

New York City “affordable” apartments require $85,000 income for one-bedroom units

Beth Torres

It might be a testament to how outrageously expensive apartments in New York City have become when households earning $75,000 and more per year qualify for government housing assistance. But that’s the case for a newly built affordable housing development in Manhattan that requires residents to have annual household incomes ranging from $75,429 to $215,150.

NYC Housing Connect is currently taking applications for these affordable housing apartments located at 1998 2nd Ave, New York, NY 10029. There are 51 apartments available with rents starting at $2,200 a month for a studio. Rents for one-bedroom units range from $2,500 to $2,600 per month. Rent for a two-bedroom unit is $3,200 per month, while three-bedroom apartments rent for $3,750 per month.

The location might explain the rents for these affordable apartments. The newly constructed development is in a popular area of Manhattan within walking distance of Central Park. Residents have easy access to the Upper East Side’s shopping and dining.

The new development features many free amenities such as:

  • Fitness center
  • Media room
  • Attended lobby
  • Free storage with each unit
  • Pet friendly
  • Washer and dryer in all apartments
  • 3,500 square foot outdoor roof deck
  • Outdoor pool
  • Outdoor 17-foot movie screen
  • Several barbecue areas with table seating

Why middle-income earners need housing assistance in New York City

What might be considered a comfortable middle-income wage in many parts of the country, simply isn’t enough to afford a decent one-bedroom apartment in New York City. New York City has the highest priced rental market in the nation with the median rent for a one-bedroom apartment coming in at $3,590 per month.

Middle-income households—especially families that need more than one bedroom—are having to move farther out to find affordable housing. This means long commute times for those people with jobs in the city. In many cases, middle-income earners are leaving New York City entirely, opting for other areas of the country where job availability is high and the cost of living is low.

Because of this, the city is looking to create more “workforce housing,” such as the new development on Second Avenue. The goal is to provide affordable housing for middle-income earners, many of whom are considered essential workers needed for the city to thrive. This includes firemen, teachers, nurses, police officers, and medical personnel.

How to apply for an affordable housing lottery in New York City

NYC Housing Connect produced this video showing how to apply for affordable housing:

You can go to 1998 Second Avenue apartments for more information on how to apply for this housing lottery. The application deadline is July 14, 2022.

There are other affordable housing apartments available for low- and middle-income earners. Go to NYC Housing Connect for more information.

What are your thoughts on New York City’s affordable housing lottery?

Have you (or someone you know) found affordable housing through a lottery? Let us know your thoughts in the comments section. And if you found this article helpful, please consider following and sharing with others. Your support helps distribute my content. Thanks so much!

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