New York City employees get preference in affordable housing lotteries for developments sponsored by the Department of Housing Preservation and Development and the Housing Development Corporation. You can also get payment assistance and homeownership counseling.
You must enter the developer's lottery and qualify under program criteria. Each development has different criteria, but in general you need to:
- Meet income limits
- Pass a credit check
- Have enough money to pay rent or mortgage payments
Home visits may also be required.
The City does not sell or rent these apartments. It works with real estate developers and community sponsors to market them. The transaction takes place between the tenant or homebuyer and the developer.