Housing Insecurity in New York City

Nearly one-third of New York City renters are housing insecure, spending at least half of their income on rent. That means 600,000 New Yorkers—nearly the population of Boston—are one missed paycheck or one illness away from homelessness. Enterprise has a goal to end housing insecurity in the United States within a generation. Download our New York fact sheet.

Enterprise’s Response

We invest capital to create and preserve quality affordable homes connected to opportunity for low-income people. We develop program solutions in coordination with public and private partners, and scale these solutions through policy change.

Since our New York office opened in 1987, we have created or preserved more than 49,000 affordable homes for 114,000 residents. We have committed nearly $2.9 billion in equity, loans and grants to affordable housing and community development in the region. Nationally, Enterprise invests about $3 billion annually in communities across the United States. Read more about our New York office.

Impact Capital

Enterprise finances the full life cycle of affordable housing and community facilities. Enterprise’s range of financial products includes grant funding, Low-Income Housing Tax Credit syndication, New Markets Tax Credit investment, and a range of loan products from pre-development through permanent financing.

Innovative Solutions on the Ground

We have three primary program areas in New York City through which we provide solutions to end housing insecurity. We develop these programs in coordination with city and state agencies, community-based organizations, financial institutions and other stakeholders.

  • Neighborhood Impact — Enterprise takes an integrated approach to strengthening New York City's neighborhoods through preserving existing affordable housing, building the capacity of affordable housing providers and bringing energy efficiency, resiliency and health resources to low income communities.
  • Vulnerable Populations — We develop solutions to address New York City's extreme shortage of housing and service funding for the most vulnerable households, including homeless and extremely low-income families and senior citizens through coalition building, advocacy, creation of pilot programs and capital innovation.
  • Public Housing — New York City's public housing agency is the city's largest landlord and provides housing for its most vulnerable residents. We provide comprehensive programmatic, capital and policy support for the agency in areas including sustainability, design innovation and affordable housing preservation and financing.

Policy and Advocacy

The goal of our policy department in New York is to increase housing resources for low-income and vulnerable households by filling gaps in the range of housing services, using existing resources more effectively and ensuring the affordable housing stock is sustainable for the long-term. We approach policy by working with partners through coalitions, building relationships with policymakers and providing recommendations based on best practice.