"The budget group's agenda is fiscal prudence. If vouchers saved money, the CBC would have every incentive to endorse issuing more of them. Instead it found that short-term savings are fleeting and vouchers cost more than shelter over time. Rental housing vouchers require substantial subsidy and have not reduced the demand for shelter, the commission wrote. The city cannot voucher its way out of the housing affordability crisis."
"A CityFHEPS voucher costs $54.80 per day. Shelters cost $144 for an individual and $270 for a family. But voucher payments run for five years or more. The average shelter stay is 15 months. Also, the state and federal governments contribute to shelter costs, while the city pays for CityFHEPS on its own. Quinn's nonprofit, WIN, doesn't want families to spend 15 months in shelters. That likely influenced its decision to use a methodology that showed vouchers save money."
"WIN claims that CBC didn't account for people returning to shelters, which WIN says vouchers would reduce. CBC says it did account for that. I didn't get into the weeds on their math, but shelter population counts suggest that CBC is right: As the city handed out lots more vouchers in the past two years, the shelter head count did not go down. It went up even with the migrant surge ending."
Two analyses disagree on New York City's CityFHEPS rental voucher expansion: one projects $635 million savings, while the Citizens Budget Commission finds short-term savings fade and vouchers cost more than shelter over time. A CityFHEPS voucher costs $54.80 per day versus shelter costs of $144 for an individual and $270 for a family, but voucher payments typically continue for five years or more while average shelter stays are about 15 months. State and federal funds help pay for shelters, whereas the city bears CityFHEPS costs alone. Shelter counts rose during recent voucher distributions, with single adult shelter population up 22 percent.
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