Some ways of finding affordable housing in New York City include applying for an inclusionary housing lottery, looking for rent-regulated apartments, waiting until winter, being willing to live in an undesirable area, and making a deal with landlords regarding repairs and other tasks. As of 2015, New York is one of the most expensive cities in the United States in terms of housing costs.Continue Reading
Inclusionary lotteries allow New York residents to apply for the chance of winning significantly discounted rent in certain apartment complexes. Housing developers have been given tax incentives to set aside 20 percent of new apartments for low income residents.
Larger buildings that have between 15 and 30 units are more likely to have rent-stabilized apartments, which makes housing more affordable because rent doesn't increase dramatically each year.
Waiting until winter is a good strategy for people who are looking for affordable housing in New York because fewer people move during this season, so landlords may provide incentives or reduced rates.
Housing options located directly next to transportation facilities, in industrial areas or in very noisy neighborhoods may have cheaper rent because they are less desirable.
Furthermore, sometimes landlords are willing to provide discounted rent for tenants who take care of the property themselves, include painting, repairs, snow-shovelling and recycling.Learn more about Real Estate