Madison Avenue Affordable Housing Lottery Lists $600 Units
Always dreamed of living on Madison Avenue like notorious figures such as John F. Kennedy, Eleanor Roosevelt or even Prince Edward? Well, now you have the chance to! NYC’s Housing Connect has a waitlist to fill current and future vacancies in a high-rise on Madison Avenue (160 Madison Avenue) with units starting as low as $600.
As part of the city’s efforts to provide affordable housing to its residents (anything that’s a third or below someone’s income), the New York City Department of Housing Preservation and Development (HPD) and Housing Development Corporation (HDC) offers a variety of open lotteries that reserve units for a fraction of the cost.
A portion of those reserved units are set aside for community board members, New York employees, and the vision/hearing/mobility impaired; however, the rest are available via application to the general public.
Of course, there are numerous stipulations in order to qualify, such as an eligible income level, household size requirements and so on. The eligible income range to apply for this lottery is a yearly salary between $23,297 – $83,850.
Beyond a single one bedroom, 160 Madison Avenue also has five currently available studio units starting around $600. Though not yet available, future two bedroom vacancies don’t go above $1,010.86 per month. To contextualize, the average monthly rent for a two bedroom in New York City as of 2024 is $5,276, according to Apartments.com. That means these units will go for 5x less than the average cost of rent.
But let’s get into what really matters: the amenities. Residents of 160 Madison Avenue will be privy to floor-to-ceiling windows to take in the NYC skyline, on-site laundry, a 24-hour attended lobby, fitness center, outside area and more.
As of today (October 11, 2024), people have 27 days to apply, bringing the deadline to mid November, just before Thanksgiving. This is the perfect chance if you just missed the application for the affordable Hudson Yards units. Increase your chances by also applying to the Gowanus lottery with $800 units available.
Want to learn some secret tips on how to win an NYC housing lottery? We spoke with experts themselves to hear some of the most common unknown tips when applying.
You can find more on the Madison Avenue units and begin your application on NYC Housing Connect.
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