Source: The City, Samantha Maldonado, Oct. 23, 2025
More than a fifth of New York City’s core affordable housing stock is in the red or close to it — putting tenants at risk.
That’s according to a new report from the Association for Neighborhood and Housing Development, which finds that at least 63,700 apartments receiving a government subsidy and operated by community development corporations and other nonprofit groups are financially distressed. That means the buildings’ operating costs exceed the money coming in.
“Some people are operating at thin margins. The piece of this that really moves it to being a crisis and a real fever pitch is some people are operating month-to-month at a loss, and you can only do that for so long,” said Barika Williams, ANHD’s executive director. “Because you can’t continue to run a building without paying the mortgage and without paying your insurance.”
With both housing owners and tenants feeling a financial squeeze as building costs rise, the stability of the apartments that house some of the city’s lowest-income and most vulnerable residents are at risk.