What if I can't afford anything?
The biggest problem about finding a place to live in NYC is that you're usually going to have to prove that you make 40x the rent.
Think about that. Just to get a $2400 a month apartment, your household income has to be at least $96,000. That's close to a 6 digit salary, and far more than most people make.
Not surprisingly, many households are joint, shared or dual income.
In addition to this there are third party guarantor companies that can help people out who need just a little push over the hurdle. Some will even pre-qualify you. For most of these programs you need to make about 27x the amount of rent on an annual basis.
Note that in order for housing to be considered affordable housing must be available at 1/3 of the AMI (area media income.)
And here's the good news, in the event that you fall into an income category where affordable housing simply isn't available based on that criteria, programs exist.
Among other things, you might want to consider resources such as Section 8 as well as the NYC Housing Lottery. And in the event that you fall between the cracks, there are a wide variety of programs in NYC that can offer you counseling and social services. In fact, part of my day is spent working for an agency that provides job training, basic literacy education and social services, including housing assistance.
And there's more great news as well: housing discrimination based on source of income is illegal, so if you do get assistance in the form of a housing voucher, it cannot be refused nor can an agent refuse to work with you. (To clarify, you can still be turned down for apartments if you don't qualify for them, but you can't be turned down just because you have a voucher.) In fact, when you contact me (or any other licensed real estate agent) one of the first things I'm required to do by law is present you with a notice informing you of this basic right.
So, suddenly the picture brightens up. Tools are out there... and hopefully great housing should be within reach! And yes, we can work together, and if I can't help you, I'd be happy to point you in the right direction.
Think about that. Just to get a $2400 a month apartment, your household income has to be at least $96,000. That's close to a 6 digit salary, and far more than most people make.
Not surprisingly, many households are joint, shared or dual income.
In addition to this there are third party guarantor companies that can help people out who need just a little push over the hurdle. Some will even pre-qualify you. For most of these programs you need to make about 27x the amount of rent on an annual basis.
Note that in order for housing to be considered affordable housing must be available at 1/3 of the AMI (area media income.)
And here's the good news, in the event that you fall into an income category where affordable housing simply isn't available based on that criteria, programs exist.
Among other things, you might want to consider resources such as Section 8 as well as the NYC Housing Lottery. And in the event that you fall between the cracks, there are a wide variety of programs in NYC that can offer you counseling and social services. In fact, part of my day is spent working for an agency that provides job training, basic literacy education and social services, including housing assistance.
And there's more great news as well: housing discrimination based on source of income is illegal, so if you do get assistance in the form of a housing voucher, it cannot be refused nor can an agent refuse to work with you. (To clarify, you can still be turned down for apartments if you don't qualify for them, but you can't be turned down just because you have a voucher.) In fact, when you contact me (or any other licensed real estate agent) one of the first things I'm required to do by law is present you with a notice informing you of this basic right.
So, suddenly the picture brightens up. Tools are out there... and hopefully great housing should be within reach! And yes, we can work together, and if I can't help you, I'd be happy to point you in the right direction.
