New York City's latest housing policy prioritizes expanding affordable housing through Mandatory Inclusionary Zoning (MIZ) and increased funding for preservation programs. The city aims to build or preserve 1.2 million affordable units by 2026, with MIZ requiring developers to include 15-20% affordable units in new constructions in designated neighborhoods. Additionally, the Right to Build law streamlines approvals for affordable housing projects, while $10 billion in funding has been allocated to preserve existing affordable units. These measures aim to address rising housing costs and reduce displacement.

The policies are driven by persistent housing shortages and rising inequality. In 2023, New York City's median rent reached $3,890, exceeding 40% of residents' income, according to the New York City Housing and Vacancy Survey. MIZ has already accelerated affordable housing production, with 15,000 units completed in 2022 alone, up 30% from 2021. Preservation funding has stabilized 200,000+ units since 2020, preventing gentrification in low-income communities. Data from the New York City Department of Housing Preservation and Development (HPD) shows that 60% of new housing permits in 2023 included affordable units, a 25% increase since MIZ's 2021 expansion. Critics argue MIZ may raise construction costs, but HPD reports that inclusionary requirements lower per-unit costs by 5-10% through tax credits and streamlined approvals. The Right to Build law has also spurred 2,000+ affordable units in 2023, with 80% of applicants being small developers previously deterred by bureaucracy. These policies collectively aim to balance growth with equity, though challenges remain in scaling production and ensuring long-term affordability amid rising land costs.