February 3, 2001
The lack of affordable housing for low income working families and the permanent housing crisis faced by homeless families has fueled CCC’s advocacy efforts to create and expand housing subsidy programs to help families find permanent housing and avoid homelessness or long stays in shelters. New York City’s housing crisis peaked in 1999 with 27% of New York City families paying more than 50% of their gross income on rent.
The overall vacancy rate for apartments in New York City dropped from 4% to 3.19% between 1996 and 1999, while apartments renting for under $400, affordable to families earning minimum or entry-level wages or receiving public assistance, have a vacancy rate of only 1.26% . Rent assistance programs play a major role in providing housing security for working families whose incomes have not kept up with increasing rents. Yet, federal, state and city investments to fund these programs have fallen short – leaving thousands of families with unstable housing arrangements, on the brink of homelessness or languishing in shelters.
Note: This publication was published in 2001. Language used in CCC products continues to evolve over time. Words used when this was published could be out of date and/or incorrectly frame an issue area when compared to today's standards.