State of New York City's Subsidized Housing: 2011
Historically, families with low and moderate incomes have struggled to find affordable housing in New York City, and this challenge has only grown in recent years. Indeed, household incomes remained essentially stagnant between 1970 and 2010, while reported rents nearly doubled. To reduce the burden that households face, the city, state, and federal governments have employed numerous programs to encourage private developers to own and manage affordable housing developments in exchange for government subsidies. More than 171,000 New York City households currently depend on these subsidies to ensure that their monthly rent remains affordable.