Sourced explainers on how
NYC housing rules actually work.
Plain-language breakdowns of the taxes, rules, and thresholds that drive the math in our calculators — mansion tax cliffs, closing costs, board requirements, and more — each one backed by a named, checkable source.
What Is AMI in NYC? Housing Connect Bands Explained
AMI (Area Median Income) sets every income limit on NYC's Housing Connect affordable housing lottery. See the HUD FY2026 income table by household size and how bands from 30% to 130% AMI work.
How Much Reserve Does a NYC Co-op Board Require?
NYC co-op boards typically require 12 months of post-closing liquid reserves — 24+ at conservative buildings. See how the math works, what counts as liquid, and a worked example.
Co-op vs Condo in NYC: What Actually Costs More
Condos cost more upfront in mortgage recording tax; co-ops cost more over time in reserves and flip tax. See the real numbers on both sides before deciding which fits your budget.
FARE Act: Who Pays Broker Fees in NYC Now
The FARE Act (effective June 11, 2025) shifted NYC broker fees from tenant-paid to whoever hires the broker. See the rule, a worked move-in cost example, and the law's current legal status.
How Much Income Do You Need to Buy a NYC Apartment?
The income you need to buy a NYC apartment depends on whether it's a co-op (28% board DTI) or condo (43% lender DTI) — the same price can require a $70K+ income gap. See the math.
NYC's 40x Rent Rule Explained
Most NYC landlords require annual income of 40x the monthly rent to qualify. See exactly how the math works, why 40x specifically, and what a guarantor needs to earn instead.
NYC Mansion Tax Explained: 2026 Tiers and the $1 Cliff
The NYC mansion tax runs from 1% to 3.9% of the purchase price on residential sales of $1,000,000 or more. See the current tier table, how the $1,000,000 cliff works, and a worked example.
Run your own numbers
Every guide here feeds into the same calculators, so once you understand a rule you can see exactly how it affects your max price or affordable rent.