What is it?
Several housing developments throughout New York City have affordable rental units which can be obtained through a lottery process. This is not a government program; you will be entering into a private real estate transaction between yourself and the specific development.
What do you get?
If you meet eligibility criteria and are selected from the lottery, you (and your family) will be able to move in to your new apartment. Rents for lottery apartments are generally lower than rents for similar non-lottery apartments.
How long do you get it
You can stay in the apartment as long as you still meet the eligibility requirements, such as income and household size.
|It is difficult to be selected from a housing lottery, as demand for the apartments exceeds supply. To improve your chances of finding an affordable apartment, you should enter multiple lotteries, as well as continue to search for apartments in other ways (word-of-mouth, classified ads, online listings, etc.).|