• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
Leadership

New York City commits over $1 billion to help the homeless

By
Michal Addady
Michal Addady
Down Arrow Button Icon
By
Michal Addady
Michal Addady
Down Arrow Button Icon
September 23, 2015, 5:32 PM ET
Panhandlers' Placards Show Signs Of Continued Economic Hardship
NEW YORK, NY - DECEMBER 04: A person in economic difficulty holds a homemade sign asking for money along a Manhattan street on December 4, 2013 in New York City. According to a recent study by the by the United States Department of Housing and Urban Development, New York City's homeless population increased by 13 percent at the beginning of this year. Despite an improving local economy, as of last January an estimated 64,060 homeless people were in shelters and on the street in New York. Only Los Angeles had a larger percentage increase than New York for large cities. (Photo by Spencer Platt/Getty Images)Photograph by Spencer Platt — Getty Images

New York City says it has decided to commit over $1 billion to alleviate homelessness over the next four years.

According to a video posted by the mayor’s office, homelessness in the city has been increasing drastically in recent years. Rents continue to go up as New York City becomes a more desirable location to settle, but wages have remained flat. In January 2005, there were 36,000 people living in homeless shelters; that number had increased to 59,000 by the end of 2014.

In 2011, the city ended the critical homeless rental assistance advantage. Things became much worse following that decision, evidenced by shelter population increasing 57% since then.

In 2014, a prevention campaign was launched that expanded initiatives and helped over 20,000 people on the brink of homelessness stay off the streets. The city also revitalized rental assistance and created other programs that have helped more than 15,000 people leave the shelter systems.

This is just the first step in a five-borough, 10-year plan, which you can find in full on New York City’s official website.

Here’s a brief look at the first four years:

About the Author
By Michal Addady
See full bioRight Arrow Button Icon

Latest in Leadership

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Leadership

C-SuiteFood and drink
‘I didn’t want anybody shooting me’: Five Guys CEO gave away $1.5 million bonus to employees over botched BOGO burger birthday celebration
By Catherina GioinoMarch 25, 2026
1 hour ago
EconomyHiring
‘Don’t leave’: the remote work guru who nailed the labor market during the Great Resignation offers job advice for 2026
By Marco Quiroz-GutierrezMarch 25, 2026
1 hour ago
Warner gestures
AIAmerican Politics
New college grad unemployment will spike to 35% in 2 years, senator warns, forcing ‘Dario, Sam’ to quit AI fear-mongering
By Jacqueline MunisMarch 25, 2026
3 hours ago
NewslettersCIO Intelligence
The ROI for AI isn’t one-size-fits-all, says data storage CTO
By John KellMarch 25, 2026
3 hours ago
LawFood and drink
‘I want everybody to have enough food’: the scientist who made your packaged food safer just won the world’s most prestigious food prize
By The Associated Press and Hannah FingerhutMarch 25, 2026
5 hours ago
University graduate
SuccessEducation
Harvard is the No. 1 ‘dream college’ of choice among Gen Z students—despite its war with the Trump administration and an $87,000 a year price tag
By Preston ForeMarch 25, 2026
5 hours ago

Most Popular

Magazine
The youngest-ever female CEO of a Fortune 500 company is fighting Trump's cuts to keep Medicaid strong
By Fortune EditorsMarch 24, 2026
2 days ago
Commentary
The Treasury just declared the U.S. insolvent. The media missed it
By Fortune EditorsMarch 23, 2026
2 days ago
Success
Palantir’s billionaire CEO says only two kinds of people will succeed in the AI era: trade workers — ‘or you’re neurodivergent’
By Fortune EditorsMarch 24, 2026
1 day ago
Energy
Nobel laureate Paul Krugman calls it 'treason': $580 million in suspicious oil futures traded minutes before Trump's Iran reversal
By Fortune EditorsMarch 24, 2026
1 day ago
Success
The job market is so bad that ‘reverse recruiters’ are charging $1,500 a month just to help people look for jobs
By Fortune EditorsMarch 25, 2026
13 hours ago
Success
JPMorgan has started monitoring the keystrokes, video calls, and meetings of its junior investment bankers—and they say it's for employee well-being
By Fortune EditorsMarch 24, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.