Housing in New York takes a variety of forms, from single-family homes to apartment complexes. New York had a homeownership rate of 50.7% in 2017. [1] Issues related to housing in New York include homeownership, affordable housing, housing insecurity, zoning, and homelessness.
According to the U.S. Census Bureau, there were 8,488,066 housing units in New York in 2020. [2] There were an estimated 91,271 homeless individuals in New York in 2020, according to the Annual Homeless Assessment Report. [3]
The U.S. Department of Housing and Urban Development administers programs that provide housing and community development assistance in the United States. [4] Adequate housing is recognized as human right in the 1948 Universal Declaration of Human Rights and in the 1966 International Covenant on Economic, Social and Cultural Rights. [5]
There is a shortage of housing in New York City. There are not enough homes for everyone who wants to live there to find a place to rent or buy.
As of 2025 [update] , housing prices in the NYC area are so high that most first-time home buyers, even if they are relatively well paid, can only afford to buy a home if their parents can give them large sums of money. [6] A small studio apartment typically sells for more than US$500,000. [6] The Urban Institute estimates that only 40% of all NYC residents, and only 28% of families with children, are able to support themselves financially, due in large part to the high cost of housing. [6]
In 2024, half of home buyers in Manhattan paid cash for their homes. [6]