What Is It?
Subsidized housing is a local and federal government program providing economic housing assistance for Americans who live in poverty—as well as the elderly and disabled.
Affordable and subsidized units can be located anywhere—not just in subsidized housing projects. In fact, every major market in the country deals with local public housing bureaus who identify and approve tenants and residences for the program.
What’s the Local Need?
With an ever-increasing population and a higher-than-average cost of living, New York City housing requires diligent regulation in order to ensure that city residents who fall below the median income level can afford a place to live. Currently, NYC Housing Preservation and Development (HPD) serves approximately 38,000 households across all five boroughs, with over 9,000 landlords participating in HOD programs.