What Is 120% and 130% AMI in NYC? 2026 Income Limits Explained

120% AMI and 130% AMI are income bands used in some NYC affordable housing lotteries to target middle-income households. They represent 120% and 130% of the Area Median Income (AMI) for the New York metropolitan area, as set annually by the U.S. Department of Housing and Urban Development (HUD). These bands have higher income limits than the more commonly discussed 60% or 80% AMI bands — meaning higher-earning households can qualify for affordable, rent-stabilized apartments that would otherwise be out of reach in New York City's open housing market.

This guide explains what these AMI bands mean in dollar terms, where these units appear, how rent is calculated, and why applying to 120% and 130% AMI lotteries can be a smart strategy even for households that earn a solid income.

What Is AMI and How Is It Calculated?

AMI stands for Area Median Income. It is the midpoint of household income for the New York-Newark-Jersey City metropolitan statistical area — exactly half of all households in the region earn more, and half earn less. HUD calculates this figure annually using U.S. Census Bureau data and publishes updated income limits each spring, typically in April or May.

For 2026, the base AMI for a family of four in the New York metropolitan area is approximately $132,400. This figure is then multiplied by the AMI percentage to set eligibility limits for housing programs.

The full range used in NYC Housing Connect lotteries typically runs from 30% AMI (the very lowest income band, targeting households earning roughly $39,720 for a family of four) up to 165% AMI (targeting moderate-to-middle income households). The 120% and 130% bands sit near the top of this range, making them accessible to working professionals, dual-income households, and families in the middle of the income distribution who still struggle to afford market-rate rents in NYC.

For detailed background on how HUD sets these limits, see the HUD Exchange income limits page, which publishes the official annual figures for every metropolitan area in the country.

2026 NYC Income Limits at 120% and 130% AMI

The following figures are based on 2026 HUD income limits for the New York-Newark-Jersey City area. These represent the maximum income allowed to qualify for a unit at each AMI percentage.

Always verify exact figures with the specific lottery listing on NYC Housing Connect, as individual buildings may use adjusted figures based on the year their financing was established.

Note that most listings also include a minimum income requirement — typically 80% to 90% AMI for units priced at 120% AMI — to ensure selected applicants can actually afford the monthly rent. If your income falls below the minimum, you will not qualify even if you are under the maximum.

Which NYC Housing Lotteries Target 120% and 130% AMI?

Lotteries at these income bands are less common than those at 60% or 80% AMI, but they do appear regularly on NYC Housing Connect. They typically arise in the following types of developments:

Inclusionary Housing Developments

Buildings in NYC that receive certain zoning benefits are required to include affordable units as part of the deal — a program known as Mandatory Inclusionary Housing (MIH). Many MIH buildings include a range of AMI bands across different unit types, from 40% AMI studios to 120% or 130% AMI two-bedrooms. These developments are frequently in newer neighborhoods undergoing rezoning and tend to have strong amenities.

NYC Housing Development Corporation (HDC) Mixed-Income Programs

HDC, the city's mortgage finance agency, finances developments that mix market-rate and affordable units. Under HDC's Mixed-Income Program, some affordable units are designated for households at 120% to 130% AMI. These buildings often look and feel nearly identical to market-rate rentals — the only difference is the rent and the lease terms.

HPD Moderate-Income Programs

NYC's Department of Housing Preservation and Development occasionally finances moderate-income developments that include 120% AMI units, particularly in projects designed to retain middle-class residents in neighborhoods experiencing rapid displacement. Learn more about the full HPD lottery process at nyc.gov/hpd.

Opportunity Housing in High-Demand Areas

Some programs specifically target middle-income households in gentrifying neighborhoods — the goal being to keep working professionals and families in communities where market-rate rents have risen sharply. These lotteries are typically competitive but benefit from a smaller eligible pool than lower-AMI bands.

How Rent Is Calculated at 120% and 130% AMI

Affordable rents are calculated so that a household at exactly the target AMI band would spend approximately 30% of their gross monthly income on rent — the standard affordability threshold used by HUD and most housing agencies in the United States.

Here is how that looks for a household of three:

• At 120% AMI (approximately $143,136/year for a 3-person household): expected monthly rent is around $3,578/month
• At 130% AMI (approximately $155,064/year for a 3-person household): expected monthly rent is around $3,877/month

These figures may seem high in absolute terms, but the key benefit is that they are rent-stabilized. Under New York's rent stabilization laws, annual rent increases are capped according to rates set by the NYC Rent Guidelines Board — typically 2% to 3.5% per year for recent years. In Manhattan and parts of Brooklyn and Queens, comparable market-rate units regularly cost $4,500 to $6,000+ per month with no stabilization protection. At 120% to 130% AMI, you are paying below market and locking in long-term protections regardless of how the market moves.

Why 120% and 130% AMI Lotteries Are Worth Applying To

Lower competition than you might expect. Many New Yorkers assume the NYC Housing Lottery is only for very low-income households and never search for higher-AMI listings. This misconception reduces the applicant pool for 120% and 130% AMI units significantly. In practice, the lottery odds at these bands can be meaningfully better than at 60% or 80% AMI, where demand is typically far higher.

Rent stabilization is the real prize. Even if your income is solid today, living in a rent-stabilized apartment insulates you from the volatility of the NYC rental market. Landlords of rent-stabilized units cannot refuse to renew your lease (as long as you comply with its terms) and cannot raise rents beyond the Rent Guidelines Board limits. This is a form of housing security that market-rate renters in NYC do not have.

Better buildings in better locations. Many 120% and 130% AMI units are in new mixed-income developments in neighborhoods with strong infrastructure, transit access, and amenities. Because these buildings blend affordable and market-rate tenants, they are generally better maintained and better managed than some older affordable housing stock.

Long-term value compounds. If you sign a lease at 120% AMI rents today and your income grows significantly over the next decade, your rent increases remain capped. You benefit disproportionately from stabilization compared to someone whose income barely exceeds the threshold.

Common Questions About 120% and 130% AMI Lotteries

Can I apply if I earn less than the 120% AMI maximum?

Yes, but only if you also meet the minimum income requirement. Every listing includes both a minimum and maximum income range for each unit type. If your income falls between those two numbers, you are eligible to apply. If you earn below the minimum, you do not qualify even if you are under the 120% maximum.

Do I need to be an NYC resident to apply?

You must live or currently work in New York City. NYC workers who commute from New Jersey, Connecticut, or Long Island are eligible to apply, though they receive lower priority in the preference system than NYC residents.

How long does it take from application to move-in?

Expect 12–24 months from the application deadline to lease signing if you are selected. The full timeline: lottery runs (2–4 weeks after deadline) → log number assigned → document review (varies widely) → interview → lease signing.

What if my income changes before the interview?

You must report income changes to the marketing agent. If your income rises above the maximum before you sign a lease, you will be disqualified. If it falls below the minimum, the same applies. Income is verified at the time of your interview, not at the time of application.

How to Find 120% and 130% AMI Lotteries

The most reliable method is to search NYC Housing Connect directly, filtering by income and AMI percentage. New lotteries open continuously — there is no fixed schedule, and openings are not announced in advance. The practical result is that most people miss lotteries because they do not check Housing Connect frequently enough.

The fastest solution is to sign up for email alerts that notify you the moment a new lottery opens in your AMI band and borough. Use the AMI Calculator to confirm which bands you qualify for, then get alerts so no matching lottery slips past you.

Related Resources

• Free NYC AMI Calculator — Enter your income and household size to see your exact AMI band
• NYC Housing Lottery Income Limits 2026 — Complete table from 30% to 165% AMI with dollar figures
• NYC AMI Chart 2026 — Printable reference for all AMI bands
• HUD AMI Calculator NYC — How HUD calculates the annual AMI limits
• Browse Open NYC Lotteries — All current Housing Connect listings
• HUD Income Limits Dataset — Official federal source for annual AMI limits