New York City Mayor Eric Adams on Thursday announced a new pilot program to help tenants in affordable housing developments report on-time rental payments to major credit bureaus in an effort to strengthen their credit scores.
The free program, led by the New York City Department of Housing Preservation and Development (HPD), the New York City Housing Development Corporation (HDC) and rent reporting platform Esusu, will allow eligible tenants in select HPD- and HDC-financed affordable housing developments to opt in to having their rent payments reflected in their credit scores.
The pilot, which launched in June and will run for 15 months, is expected to reach about 500 households.
"If you’re paying rent on time every month, you should see that reflected in your credit score, and with this program, we will help make that a reality," Adams said in a statement.
Credit scores play an essential role in determining an individual's financial future, with higher credit scores often unlocking lower premiums for home and car insurance, lower interest rates on mortgages and more. Rental payments do not currently count towards one’s credit score and this has affected many Black and brown New Yorkers who are more likely to rent their homes than other demographics, the mayor said. The lack of opportunity for renters to build up their credit scores despite years of responsible financial behavior puts many New Yorkers at a disadvantage.
To date, Esusu has helped renters establish 200,000+ new credit scores, with an average credit score increase of 45-plus points. Residents of Esusu-enrolled buildings have accessed $30 billion in mortgages, $2 billion in student loans and over $9 billion in auto loans.
Following an initial three-month outreach period beginning this month, eligible tenants who enroll can have their rent payments reported for 12 consecutive months, from September 2025 to September 2026, through Esusu. Following the completion of this pilot program, the city will evaluate the results for potential future expansion citywide.
“Families using the Esusu platform gain access to a hand-picked list of services and programs focused on fostering economic mobility and wealth creation," said Samir Goel and Wemimo Abbey, co-founders and co-chief executive officers of Esusu.
