Need help finding an affordable apartment in Brooklyn

(Request from Jessica in Brooklyn, New York) Hi , I am currently 6 months pregnant and honestly am looking for somewhere to go. Rent in the city is super high and unaffordable, I live with my partner we both have jobs, but we are both young. We would really like some assistance in finding and renting an apartment.

Dear Jessica,

Rent in Brooklyn is indeed high, which is the primary tenet of the locally based political group The Rent is Too Damn High Party. For people like you who must pay the inflated local rent prices, it is no laughing matter. We recognize that having to pay such a high percentage of your monthly income on rent can wreck the delicate balance of a family budget. Brooklyn used to be the place where Manhattan residents moved to for cheaper rent. That distinction is fading however. Fortunately you are both working which will make it easier to find a place to call home, even if your wages are lower than what you would like for them to be.

To combat rising rent prices, many cities provide funding to developers that need capital to renovate and rehab older buildings. In exchange for the funding, developers promise to reserve all or a certain percentage of each development for affordable housing units. Here are some options for finding an affordable apartment in Brooklyn.

NYC Reduced Rent Housing Lottery

Contrary to the name, this is not your typical game of chance. The city awards access to many of the affordable apartments in Brooklyn to those applicants who are selected in a lottery. Competition for the units is what requires the use of a lottery, since there are far more applicants than there are affordable housing units.

Some developments may only have a couple of units available due to tenants recently vacating. Newly opened developments may have over 100 new apartments ready to lease. Apartments range from studios to 3 bedroom units.

To cite one example, the Water Street Apartments charge rents ranging from $539 to $893 monthly. In order to qualify, household income must be between $19,024 and $41,950 annually. A hotline has been established to allow you to find the latest listings.

In order to apply for the housing lottery, call 311 and request the Affordable Housing Hotline. You will have the chance to ask questions and get instructions for submitting a housing application.

Mixed Income Rental Program

The city’s Mixed Income Rental Program rewards developers with funding of up to $75,000 in funding per unit for creating affordable housing. This is not a program for developing housing projects.

Instead, the purpose is to allow for regular housing communities to include a handful of units that are available for rent at a much lower rental rate. Applicants cannot earn more than 130% of the median income level for the area. Again, to find one of these affordable rent apartments, call the city hotline at 311, or dial 212-NEW-YORK.

DHCR

New York City’s Department of Homes & Community Renewal (DHCR) also maintains a rent info hotline for applicants seeking a break from high rental rates. Call 718-739-6400 for more information about rent controls and finding an affordable apartment in Brooklyn.

Skip Rent and Own

If your annual income exceeds the reduced rent programs that are sponsored by the city, then you might want to consider whether you may actually qualify for special programs that allow you to purchase a home. You can even get help with a loan to make this possible.

Neighborhood Housing Services of New York City, Inc. (NHS) provides resources to allow working adults to skip the annual rent increases and benefit from a locked-in monthly mortgage payment. If you think your rent is high now, consider that it could be double the rate in 20 years. Your mortgage payment would still be the same!

Skip the rental increases and give yourself a chance to be a homeowner, if you are ready. Call NHS at 718-919-2100 for the Bedford-Stuyvesant neighborhood, or 718-469-4679 for the East Flatbush office.

Help with Move-in Expenses

Winning the housing lottery can help keep your monthly rent costs low. For everyone else, you might benefit from programs that help with security deposits and first month’s rent in Brooklyn. This can help you make your move when cash is tight.