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My partner and I are planning on making the move to NYC next September, after our current lease is up.
We were listening to a podcast about moving to NYC and we heard about the Stuytown lottery, and we have already signed up for notifications on when the 2022 lottery opens up.
When googling to find out about other housing lotteries, I stumbled across NYC Housing connect-but the issue so to speak is that my partner and I are above the income limits (2 people making $170,000) so nothing shows up. However it seems to indicate no open opportunities, so I was wondering, is there a way to search all (open and closed) opportunities, just so we know if it's possible in the future to find a place on the Housing Connect website?
In addition, seeing how Stuytown is a little different than Housing connect, aka it's not just predominantly low-income housing, it also allows people that are middle class by NYC (bordering lower middle class by Manhattan standpoints) not have a tiny 1 bedroom for $4k or under, are there any other similar lotteries? Or is Stuytown unique in that regards?
Housing Connect is mostly middle income and moderate income. There are not enough opportunities for low income, and entirely too many for the upper AMI brackets as it is. (Speaking as someone in the higher bracket.)
If you're at 170k for a 2 person household, you're pretty much out of the affordable lottery game.
1 Boerum, 7 Dey, 1 Blue Slip, and the Gilroy are probably the most expensive lotteries I've seen in 5 years, and you are way beyond the brackets for those lotteries.
You can see posters for closed lotteries if you have direct links, but there is no way to search HC2 for closed projects.
The maximum income for the housing lottery is $157,000. There are far too few affordable housing apartments for people below that income already, so people who can afford to pay market rate should not try to take crumbs from people with even less.
It’s futile to search lotteries, old or new, you do not qualify for. You will have to pay market rate like everyone else in your income bracket.
Housing Connect might not be the best source for your demographic, but you can try looking up rent-stabilized units on StreetEasy if you’d like to have some security about how much your rent would be year over year. I’m not sure if there are restrictions on income for rent-stabilized units. Of course they won’t be new or renovated luxury units, but there is a variety of options and locations. Since you won’t be here until next year, it’ll give you a head start as some rent-stabilized units have a more tedious application process.
Otherwise, I think you might find great market rate options outside of Manhattan (while still being <30 mins commute from Manhattan) or even Jersey City!
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. -___-
Last edited by janexstasy; 10-29-2021 at 06:45 AM..
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. -___-
Taxation applies to everyone. We're all burdened by taxes. This is why the AMI brackets exist and people who make over 157k are excluded from these lotteries. Again, I'm speaking as someone in the 130/165 brackets.
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