Eligibility for HDC-financed developments is based on household annual income before taxes, and other criteria. Depending on your income and family size, you may qualify for one or more programs. HDC program guidelines provide the maximum allowable income for each program; it is the developer of the building that sets the minimum. Income is adjusted for family size.
Income guidelines are based on how the Department of Housing and Urban Development (HUD) calculates the Area Median Income (AMI) of the New York City region.Income guidelines are calculated annually and therefore subject to change on a yearly basis.
The AMI for 2013 is $85,900 for a family of four. Use the information below to determine your eligibility for affordable housing programs, but bear in mind that each development has specific income requirements. At the time applications become available for a development, specific income guidelines will be provided in the listing for each project at the Now Renting and the Apartments For Sale area of the web site.
PLEASE NOTE: Every application is thoroughly checked and all assertions with regard to income and other necessary documentation are reviewed by the developer and HDC to ensure compliance with the applicable program. Tax returns and income are verified with the IRS. If either HDC or the developer notices any irregularities, the file is submitted to the City’s Department of Investigation for further investigation. It is a crime to falsify records or to misrepresent your income when applying for this City, State and/or Federally subsidized housing.
Low-income Affordable Marketplace Program (LAMP)
This program is for individuals or households with a combined annual income of up to 60% of AMI. The maximum incomes (adjusted for family size) are as follows:
60% of AMI
$51,540- Family of four
$46,440- Family of three
$41,280- Family of two
80/20 Program, Mixed-Income Program
These programs are for individuals or households with a combined annual income of up to 40% or 50% of AMI. The maximum incomes (adjusted for family size) are as follows:
40% of AMI
$34,360- Family of four
$30,960- Family of three
$27,520- Family of two
50% of AMI
$42,950- Family of four
$38,700- Family of three
$34,400- Family of two
Moderate to Middle-Income Programs:
New Housing Opportunities Program (New HOP), Mixed-income Program, Taxable 80/20, and Coop Housing Program
These programs are for individuals or households with a combined annual income of up to 100%, or 130%, or 175% of AMI. The maximum incomes (adjusted for family size) are as follows:
100% of AMI
$85,900- Family of four
$77,400- Family of three
$68,800- Family of two
130% of AMI
$111,670- Family of four
$100,620- Family of three
$89,440- Family of two
175% of AMI
$150,325- Family of four
$135,450- Family of three
$120,400- Family of two
* The above information is provided as a general guide. Each listing will state the specific income requirements for each building.