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To be clear, my partner and I aren't trying to take crumbs- but take a look at any site like Street Easy, and input our financially smart limit=$3950 a month- and you will see we do not have a HUGE pick of places that aren't tiny 1 bedroom places, especially in a place like Manhattan. If the prices in NYC, especially Manhattan, weren't so stupidly high, we wouldn't bother to check around for lotteries and stuff.
Pretty much every other city not named NYC or San Francisco, we'd not even attempt to look for lotteries.
Perhaps you should check out rent stabilized apartments listed on StreetEasy, you may be surprised some great &/or brand new apartments were decided not to go through lottery & just being offered over there like this one:
To be clear, my partner and I aren't trying to take crumbs- but take a look at any site like Street Easy, and input our financially smart limit=$3950 a month- and you will see we do not have a HUGE pick of places that aren't tiny 1 bedroom places, especially in a place like Manhattan. If the prices in NYC, especially Manhattan, weren't so stupidly high, we wouldn't bother to check around for lotteries and stuff.
Pretty much every other city not named NYC or San Francisco, we'd not even attempt to look for lotteries.
To be clear, my partner and I aren't trying to take crumbs- but take a look at any site like Street Easy, and input our financially smart limit=$3950 a month- and you will see we do not have a HUGE pick of places that aren't tiny 1 bedroom places, especially in a place like Manhattan. If the prices in NYC, especially Manhattan, weren't so stupidly high, we wouldn't bother to check around for lotteries and stuff.
Pretty much every other city not named NYC or San Francisco, we'd not even attempt to look for lotteries.
What kind of sq footage are you looking for? NYC is definitely inflated real estate, but there are some gems that pop up, even in areas like midtown Manhattan. I can’t figure out how to link from the mobile app, but I saw two 1-BR apartments, one that had a private balcony/terrace and one listed at 650sq ft+, for <$3500. One was a luxury apartment building that had doormen and other fancy amenities, too. Though tbh I have lived here most of my life so I’m not sure what’s a ‘good’ value per sq footage.
A lot of more affordable results showed up ($2500-$3000) for areas like Bushwick too. They may not be huge, but the price might feel more appropriate to the rent. Honestly, you can get a 3BR in this area for like $3000/mo. If you happen to find a listing that’s a smaller multi-family unit instead of an apartment complex, you could even have substantial closet/storage space since the apartments were built with the intention of being homes for families. Of course these might not be ultra new renovated - but that’s a compromise on price/size.
Try getting in some groups like Gypsy Housing on Facebook - it’s generally oriented at individuals seeking/filling rooms, but there are also full apartment listings. Some people are seeking lease takeovers, so those units might not appear on StreetEasy.
To be clear, my partner and I aren't trying to take crumbs- but take a look at any site like Street Easy, and input our financially smart limit=$3950 a month- and you will see we do not have a HUGE pick of places that aren't tiny 1 bedroom places, especially in a place like Manhattan. If the prices in NYC, especially Manhattan, weren't so stupidly high, we wouldn't bother to check around for lotteries and stuff.
Pretty much every other city not named NYC or San Francisco, we'd not even attempt to look for lotteries.
When I look at StreetEasy, I do see a huge selection of 1 bedroom apartments under $4k. I can't imagine having that as a budget personally. Are you putting a lot of requirements in your search? If you are limiting yourself to Manhattan, you will have to make a lot more compromises than if you look in Brooklyn and Queens.
I'm in Sunnyside, Queens, which is a 20 min commute to midtown Manhattan and I pay market rate $2k/month for a very spacious (740 sqft) pre-war apartment in a well-managed co-op building. You can get a 2 bedroom in my neighborhood for under $3k.
You don't even live in NYC. Aren't you in Illinois? Don't think you can just get an affordable apartment through a lottery and move here to it.
Affordable apartments were set up to accommodate those WHO live here not to get new people to move here from other states.
Your combined income of $170,000 disqualifies you both :-/
Perhaps you and your partner can apply separately to increase your chances?
You can also subscribe to https://newyorkyimby.com/ click on Topic -> Affordable Housing
This newsletter has updates on future housing lottery construction in NYC and when lottery launches - I hope this help
Vanta, not everyone in middle class can afford market rate. Just because a person makes over 150K doesn't mean they cash out 150K - most of it is taxed. After taxes, you barely have enough remaining as most of it will go towards your market rate rent of over 4k a month. -___-
They may not be able to afford market rate in Soho or the Village but there are housing options in NYC for housing that would cost them less than 30% of their yearly income. Typically my family falls on the upper end of the income limits. We have options, so believe me… with a budget at nearly 4k a month, the original poster has options. They’re likely narrowing their results to the most expensive neighborhoods in only super luxury buildings. Their $170k doesn’t go as far in NYC as Illinois but lets not act like they’ll have to bed down in moldy tenements.
PS…We all pay taxes.
170k divided by 40 is 4,250. That’s the rent that they can afford according to developers. A rent of 4,250 should get them way over a market value apartment at Stuyvesant.
Yes I am in Illinois, and I understand the way the lotteries work (even Stuytown), all current NYC residents get picked first before any non- residents. But we are only interested in Stuytown with the mindset of "sure we will probably end up in Brooklyn or maybe Upper East/West Side with our budget and the amenities we want, but why not enter the lotteries we are able to just to have a chance to get something in Stuytown/East Village that still gives us the larger space/2 bedroom we are used to in Illinois for $4k and under"?
I don't know why some people seem to think we are trying to be "bad" people by doing some equivalent of billionaires not paying taxes or something else regarding our fair share etc.
Stuytown is not just a lottery development- it’s also majority market rate so you can go ahead and start the rental process without applying to a lottery or even living in NYC. The one bedrooms start at 3682.
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