New York City has opened a new affordable housing lottery through NYC Housing Connect, the city’s official system for listing income-based apartments. These lotteries give renters a chance to apply for homes that are priced well below market rent.

This new listing is getting attention because some of the available apartments have rents under $500 per month, which is very rare in New York City.

What Makes This Housing Lottery Different

Most affordable housing lotteries offer reduced rent, but this one stands out because of how low some of the rents are. A small number of units are priced far below what people usually expect to pay in NYC.

These apartments are part of a larger affordable housing development. While many units are still priced higher, a few are reserved for households with very low incomes, which is how the rent drops to under $500.

How the Housing Lottery Works

The process is not first-come, first-served. Instead, applicants enter a lottery system.

Here’s how it works in simple terms:

  • You apply for apartments that match your income and household size.
  • The city randomly selects applicants.
  • If you are selected, you are asked to prove your income and eligibility.
  • If everything checks out, you may be offered the apartment.

Because of high demand, most people are not selected, but applying is still worth trying.

Income and Eligibility Rules

Each apartment has specific income limits. These limits depend on:

  • How many people live in your household
  • Your total household income
  • The type of unit you are applying for
  • Some apartments are reserved for individuals, while others are meant for families. Meeting the income range does not guarantee selection, but it allows you to enter the lottery.

Why This Matters for Renters

Rents across New York City continue to rise, making it harder for many people to find stable housing. Affordable housing lotteries help bridge that gap by offering long-term housing at prices tied to income instead of market demand.

To learn more about qualifications or to apply, click here.