How does Free Child Care in select neighborhoods impact the Real Estate Market in New York City

The Neighbhorhoods highlighted will be offering free child care under Mamdani’s pilot program.

The first communities offering seats will include:

• School District 6: Washington Heights, Hamilton Heights and Inwood

• School District 10: Northwest Bronx including Fordham, Belmont, Norwood, Morris Heights, Van Cortlandt Village and Kingsbridge

• School Districts 18 and 23: Canarsie, Remsen Village, Brownsville and Ocean Hill

• School District 27: Ozone Park, South Ozone Park, Richmond Hill, Howard Beach, Woodhaven and the Rockaways

City officials said during a Council hearing Monday that they would be utilizing child care centers and home-based providers for the 2-care program. Emmy Liss, executive director of the Mayor's Office of Child Care and Early Childhood Education, also said the city was exploring both school day programs that are 6 hours long and full day programs that run until 5 or 6 p.m.

The program will start in September and is expected to enroll 12,000 children by fall 2027.

Lincoln’s take: These neighborhoods see a spike in leasing demand on 2-3+ bedroom apartments. Many of the selected neighborhoods, luckily have inventory to support this, however some could see a very competitive leasing environment with increased demand for larger footprint apartments. Resales remain largely the same as many will wait to see the if the program is adopted.