The Real Deal New York

Want an affordable apartment in NYC? Fat chance

More than 48,000 people applied for 124 available apartments in a new Sugar Hill development
November 21, 2014 12:30PM

The odds do not seem to be in the favor of those seeking affordable apartments in New York City.

Tens of thousands of New Yorkers who are vying for affordable housing spots across the city are dependent on housing lotteries, and chances of winning those are extremely slim, according to the New York Daily News.

At a new affordable housing development in Harlem’s Sugar Hill neighborhood, for example, 48,428 people entered a lottery for 98 affordable units and 25 apartments for homeless families, the newspaper reported. This meant that there were approximately 436 eligible applicants per unit.

Studios at the complex go for as low as $349 a month, while families of six can rent a three-bedroom apartment for $1,588 a month.

The average income of a single applicant was roughly $25,400. The average four-person household made $34,780. More than half of the applicants had incomes between $10,000 and $30,000, according to the newspaper.

The complex at St. Nicholas Avenue and 155th Street was built by nonprofit Broadway Housing Communities. The development — which cost $89.2 million to construct — includes a children’s museum and a pre-K and childcare center.

Thus far, the city has created and preserved 10,846 of the promised 200,000 affordable units. [NYDN] — Claire Moses