Affordable housing is essential to creating and sustaining healthy, economically vibrant communities. In many areas housing costs have far outgrown the rate of inflation and the gap between wages and housing costs is widening, pushing affordable housing beyond the reach of an increasing number of working families. New York’s housing costs affect its ability to retain the talented employees needed to secure our world-class status in business, education, and healthcare. The shortage of affordable housing also creates a barrier for people who provide the bulk of vital community services, like teachers, police officers and nurses. Too often it is difficult for these individuals to afford to live in the communities in which they serve. I am working hard to ensure our nation addresses these issues with a combination of federal support, working with state and local officials, and with public–private partnerships.

Section 8
Each year, the Section 8 Housing Voucher program helps nearly 200,000 New Yorkers afford housing and make ends meet. At a time when the cost of rental housing is out of reach for millions of poor households, Section 8 vouchers can mean the difference between self-sufficiency and homelessness.  MORE»

Community Service Block Grant
The Community Service Block Grant Program (CDBG) has long been a lifeline for New York's towns and cities, allowing them to make critical investments that have returns for years to come. Since 1974, this successful program has provided vital funds to build affordable housing, revitalize run down neighborhoods and provide economic development opportunities. Despite the success of this program, the Bush Administration has proposed to slash funding nearly 20 percent.  MORE»

Public Housing
Public housing is home to almost 3 million seniors, people with disabilities and low-income families with children, including approximately 400,000 New Yorkers. This mainstay affordable housing program is severely underfunded. The operating funds alone have been cut by more than $1.3 billion over the past four years.  MORE»

Affordable Housing Production
In addition to preserving the existing affordable housing stock, I have supported efforts to increase the supply of affordable housing. I co-sponsored the National Affordable Housing Trust Fund Act, which establishes a dedicated funding stream to produce 1.5 million new units of housing for low-income families. MORE»

Employer Assisted Housing
Many local communities are working creatively to increase the supply of affordable housing. Employer Assisted Housing programs offer an innovative mechanism for leveraging public and private funds to make housing affordable for working families. Employer Assisted Housing programs have been shown to help attract and retain workers, and, ultimately, enhance the economic stability of communities across the entire nation. MORE»

Federal Housing Administration
The Federal Housing Administration (FHA), created to serve working and low-income families shut out of the conventional housing market, has helped over 34 million families realize the dream of homeownership since its inception in the darkest days of the Great Depression. And remarkably, the FHA carries out it mission without cost to the taxpayer as it returns money to the Treasury each year through premium generated revenue. Although FHA has been extremely successful in helping families buy what is often their first home, it is time to modernize this agency to reflect the economic realities and dynamic nature of many housing markets. MORE»