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NYC Job Growth vs. Housing Construction (2011-2023)
Comparison of new jobs created versus new housing units built in NYC over the last decade.
Primary Sources
We're Building More Affordable Housing These ... - The New York Times
AdvertisementSKIP ADVERTISEMENTCalculatorThe good news is, affordable units are making up a larger share of the new rental supply.Credit...Karsten Moran for The New York TimesBy Julia EchiksonApril 16, 2026More than 91,000 affordable rental units were completed in the United States in 2024, by far the most in the decade leading up to that point, according to a report from RentCafe using Yardi Matrix data. That peak may prove difficult to sustain — data from 2025 and future projections show a retreat — but the good news is, the number should remain well above prepandemic levels, and affordable and partially affordable units are making up a larger share of the new rental supply.From 2010 through 2024, construction of affordable — that is, income-restricted — housing grew by 73 percent, more than double the pace of market-rate apartments. In 2024, affordable units accounted for nearly 14 percent of newly completed rental stock, up from just 9 percent a decade earlier.Who is it for? Typically, affordable housing is earmarked for people earning up to 80 percent of an area’s median income, as measured by the U.S. Department of Housing and Urban Development (HUD), with rents capped at 30 percent of their household income. In Miami-Dade County, for instance, a single person earning $69,400 per year makes 80 percent of the area’s median income; their monthly rent should not exceed $1,735 to be considered affordable.New state housing laws are helping to drive the surge. They often include tax breaks that offset construction costs, which have skyrocketed since the pandemic. The American Rescue Plan Act, passed in 2021, supplied additional funding to states for affordable-housing projects.The true number of affordable-housing units is likely higher than the one cited in the RentCafe report, which only counted buildings in which every apartment is price capped. Those are typically owned and operated by municipalities or nonprofits that maintain reduced rents in perpetuity. Private developers, by contrast, often must restrict rents on only a portion of units in a building, and only for a limited time period.Unfortunately, the growth of affordable housing has not been enough to prevent shortages or lower rents overall. Seattle and New York City, for example, added the most income-restricted apartments — nearly 15,000 each from 2020 through 2024. Yet average monthly rents remain high, at $2,235 and $4,843, respectively, according to RentCafe.AdvertisementSKIP ADVERTISEMEN...
Mapped: The Cost of Living Across America - Visual Capitalist
Massachusetts ($118,431), California ($107,357), Alaska ($100,289), and New York ($99,425) round out the top five, reflecting a mix of housing pressure, geographic isolation, and higher overall costs. The Cheapest States to Live In In Oklahoma, average annual household spending is $66,284, making it the most affordable state overall.
Red Tape Keeps NYC's Affordable Housing Empty for Months
A new affordable housing lottery for The Barnett in Sunnyside, Queens offers apartments starting around $545, but bureaucratic red tape can keep units empty for over a year before move-ins, according to a report from realtor.com. The article explains the citywide issue of delayed occupancy in affordable housing units and how officials are working to speed up the process.
Home in the City | Spectrum News NY1 | New York City
Millions of applications to the affordable housing lottery. Tenants spending their entire lives in the rent-controlled apartments they grew up in. Penthouses listing for nine figures.
