Mayor Mamdani and Deputy Mayor for Housing and Planning Leila Bozorg announced on Aug. 11 that New York City has financed the creation and preservation of 12,491 affordable homes during the first six months of 2026, including more than 2,000 homes for New Yorkers who were formerly homeless.
More than half of the homes will serve low-income New Yorkers earning less than 50 % of the area median income, or roughly $68,000 a year for a two-person household. From January through June, the city also connected nearly 10,000 New Yorkers to affordable housing, including more than 4,300 people who were formerly homeless.
“Affordable housing is a lifeline for millions of New Yorkers and we made it our responsibility to meet the housing crisis with the scale and urgency it demands," said Mamdani.
The investment comes as the Mamdani administration advances a five-year, $22 billion capital commitment to affordable housing. The city is also pursuing financing tools and proposed reforms designed to speed up pre-development, permitting and lease-up for affordable housing projects.
The New York City Housing Authority completed 32 capital projects at 29 developments between January and June, benefiting more than 50,000 residents. The projects included improvements to heating systems, elevators, roofs, facades, waste management and community centers.
The citywide investment could benefit Brooklyn residents as housing costs continue to put pressure on households across the borough. Preserving existing affordable apartments can help residents remain in their communities while new housing expands options for lower-income New Yorkers.
The administration plans to continue its housing efforts through its Block by Block plan and proposed SPEED reforms, which aim to cut up to two years from affordable housing development timelines. The city has also set a goal of delivering 200,000 affordable homes over the next decade.
