Governor Kathy Hochul signed a bill Friday to increase the state’s rental assistance voucher for families experiencing homelessness or on the brink of eviction, a move supported both by advocates for the homeless and the real estate industry which will allow homeless families substantially more access to the New York City housing market.
The bill, which passed the State Legislature in June, increases the amount of rent money that the Family Homelessness and Eviction Protection Supplement (FHEPS) voucher covers to 100 percent of fair market value as determined by the federal Department of Housing and Urban Development, up from the 85 percent covered previously. Fair market rent as determined by HUD is currently $2,026 for a two-bedroom apartment in the New York Metropolitan Area. 85 percent of that is $1,722.
