May 31, 2025
As a realtor in New York City, it’s always exciting to see real progress being made in the housing space—especially when it directly impacts the lives of the people we serve every day.
Over the last few years, the city has been aggressively working to bring more affordable housing to the market, and we’re starting to see real results.
The numbers don't lie: New York City has just had back-to-back record-breaking years for building affordable housing. That means more units for older adults, more supportive housing for formerly homeless New Yorkers, and a major investment in keeping families here in the city.
In 2024 alone, the Department of Housing Preservation and Development connected more New Yorkers to homes than ever before, while NYCHA pumped $1.7 billion into critical repairs across public housing developments.
Even more impressive? Over 14,600 households were able to move out of shelters and into permanent housing—up 24% from the previous year. For those of us helping clients every day, these numbers represent real people getting real opportunities.
But the city isn’t stopping there.
Plans like the “Manhattan Plan” aim to create 100,000 new homes in Manhattan alone over the next decade, and the broader “City of Yes for Housing Opportunity” is poised to deliver 80,000 more across all five boroughs over the next 15 years.
This includes building near public transit, adding housing above libraries, and making it easier for families to find places that truly work for their needs.
The strategy now is clear: build "everything, everywhere, all at once"—on every block, in every neighborhood, across all five boroughs.
As realtors, this is great news. It means a healthier housing market, more options for buyers and renters, and a stronger foundation for New Yorkers looking to build their future here.
Yes, the hustle is real. Life in this city isn’t always easy.
But seeing investments like these reminds me why we love helping people find homes in New York—because here, a home isn’t just a place to live. It’s a launchpad for opportunity.
If this momentum continues, New York will not only remain the greatest city in the world—it will also become a more affordable, more inclusive one for generations to come.
Disclaimer: This content is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice.
