Assembly SFY 2026-27 Proposed Budget Invests in Programs to Make Housing More Affordable, and Make Homeownership More Accessible

Assembly SFY 2026-27 Proposed Budget Invests in Programs to Make Housing More Affordable, and Make Homeownership More Accessible

Speaker Carl Heastie and Housing Committee Chair Linda B. Rosenthal today announced that the Assembly State Fiscal Year (SFY) 2026-27 Proposed Budget makes investments in programs to make housing more affordable and to make homeownership more accessible.

"A top priority of the Assembly has always been making sure every New Yorker has access to safe, affordable housing," Speaker Heastie said. "This budget makes critical investments in public and affordable housing, programs to help those at risk of homelessness and programs to help put homeownership within reach for families. We will continue working to fund these vital programs and make sure no one has to worry about how to keep a roof over their head."

"With a rising cost of living and disastrous federal budget cuts by the Trump administration, New Yorkers are finding it harder than ever to access safe, stable and affordable housing," said Assemblymember Rosenthal. "The Assembly One House budget delivers another necessary investment in our Housing Access Voucher Program to move more people into permanent housing, provides substantial investments in NYCHA and Mitchell-Lama housing to help preserve these homes for generations to come, bolsters funding for our Neighborhood and Rural Preservation Programs to prevent displacement and continues the state's investment in the Homeowner Protection Program to help households statewide avoid foreclosure. Despite ongoing attacks by the Trump administration, our one-house budget meets the needs of everyday New Yorkers. Under the staunch leadership of Speaker Heastie, I look forward to passing a final state budget that expands and preserves affordable housing in every corner of the state."

The Assembly's budget includes critical capital funding investments in public housing and affordable housing across the state, including:

• $750 million for the New York City Housing Authority (NYCHA);
• $750 million Mitchell-Lama Preservation; and
• $225 million for public housing authorities outside of New York City.

It also provides $100 million for Mitchell-Lama developments and NYCHA to offset maintenance costs.

To help provide more families with home ownership opportunities, the budget includes $50 million in downpayment assistance to families with between 50 and 120 percent of area median income. Of that, $20 million is set aside for homeownership opportunities for diverse populations.

The proposed spending plan includes an additional $200 million for the Housing Access Voucher Program (HAVP), for a total of $250 million. HAVP is a rental assistance program that helps individuals and families who are homeless or at risk of homelessness to secure permanent housing and transition out of shelters or unsustainable housing situations. It also enables local housing agencies to avert evictions for nonpayment of rent and other causes of displacement. The creation of the program was a longtime priority of the Assembly's and was created in the SFY 2025-26 Enacted Budget.

The Assembly budget would also codify the Homeowner Protection Program (HOPP), which provides free housing counseling and legal services to homeowners related to homeownership retention, such as preventing foreclosure and deed theft.