What exactly is the 'AMI' that's used to determine affordable housing rents?

… If youve ever entered New York Citys affordable housing lottery youve probably read one key term over and over again area median income But what does that actually mean In short area median income or AMI defines the median incomes …

By Celia Young |October 22, 2024 - 9:30AM
What are land-lease buildings? Are they common in NYC?

… The vast majority of residential buildings in New York City own the land they sit on but a tiny percentage rent the land from someone else These are called …

By Evelyn Battaglia |December 4, 2023 - 12:30PM