The New York Housing Conference released a groundbreaking new report today studying the economic and fiscal impact of universalizing federal rental assistance programs like the Section 8 voucher, finding that the program would generate $14.7 billion in economic activity, including increasing household spending capacity in New York State by $8.5 billion, while adding 96,000 jobs and lifting 300,000 New Yorkers permanently out of poverty. The program would also result in a 33 percent increase in affordable housing production in New York City alone.

The report, commissioned by NYHC and conducted by HR&A Advisors, finds that making federal rental assistance available to all eligible households – currently, just 23 percent of eligible households in New York State receive any aid due to funding restrictions – would provide financial support for low-income households and greater equity, reduce chronic homelessness, increase local economic activity and generate additional local and state tax revenues.

The report was covered in Politico New York – read the coverage here. Download the full report here.