The national housing crisis continues to strain families across the U.S., but New York is showcasing one of the country’s most ambitious efforts to reverse that trend.
Since 2021, New York has built, preserved, or “unlocked” an estimated 350,000 homes statewide as part of a broad campaign to increase housing availability and affordability. The milestone comes one year after the passage of major housing legislation, and state officials say the effort is already producing results.
60,000 affordable homes ahead of schedule
At the core of the state’s progress is a $25 billion Housing Plan launched to create 100,000 affordable homes. So far, more than 60,000 affordable units have already been created or preserved—well ahead of schedule.
A new public dashboard now allows residents to track the program’s progress in real time, providing transparency and accountability for how taxpayer dollars are being used to address the crisis.
421-a extension saves tens of thousands of NYC apartments
A key piece of the housing expansion stems from a 2024 budget deal that extended the completion deadline for the now-expired 421-a tax incentive. That move saved roughly 71,000 apartments across New York City—including 21,000 affordable units that were at risk of cancellation due to pandemic-related delays and market instability…