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.
One high-profile example is 585 Union Street in Brooklyn’s Gowanus neighborhood, where 224 units are under development—58 of which will be affordable to households earning between 40% and 130% of the area’s median income.
Local action through the Pro-Housing Communities Program
More than 300 cities, towns, and villages have joined New York’s Pro-Housing Communities Program, which unlocks access to $750 million in discretionary state funding for housing development. The program supports infrastructure upgrades like water and sewer systems to make housing expansion possible.
To further support local growth, the FY26 state budget includes:
- $1.5 billion in new housing investments
- $1 billion to support the City of Yes for Housing Opportunity zoning reforms
- $750 million in direct aid to pro-housing communities
- $100 million for infrastructure in certified localities
- $5.25 million in technical grants to help communities plan housing-friendly development
New York City to add 80,000 homes under City of Yes
The budget includes over $1 billion in support for New York City’s City of Yes program, which will enable zoning changes and policy updates aimed at increasing housing density. The initiative is expected to create or preserve more than 80,000 homes citywide.
Key takeaways
- New York has delivered 350,000 housing units through a mix of construction, preservation, and legislative reforms.
- The $25 billion Housing Plan has surpassed 60% of its affordable housing goal.
- The 421-a deadline extension rescued 71,000 apartments.
- Hundreds of localities are now certified as “pro-housing,” making them eligible for additional state funding.
- New York City’s zoning reforms aim to unlock tens of thousands of additional homes.
As housing costs continue to climb nationwide, New York’s aggressive, data-driven approach may offer a model for how other states can tackle the crisis head-on.
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