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Politics

NYC Sets Affordable Homes Record: 24,500 Financed in 2017

January 16, 2018

NEW YORK (AP) — Officials say New York City created or preserved over 24,500 affordable homes last year, breaking a record for the nation’s biggest city.

Mayor Bill de Blasio (dih BLAH’-zee-oh) is announcing the statistic Tuesday. The previous record was just over 23,100, set in 1989.

De Blasio has made affordable housing a centerpiece of his two mayoral campaigns. The Democrat was re-elected last year.

The city invested over $1 billion in affordable apartments last year. The effort mostly preserved affordable homes — over 17,300 of them. Another 7,200 new ones were created.

Nearly half the homes financed rent at levels affordable to an individual making about $33,400 per year, or $43,000 for a family of three.

The city has preserved or created over 87,500 affordable homes in the last four years.

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