Financial reports from New York City government or independent audits

NYC to Spend $5.76 Billion Housing Migrants in 14,000 Hotel Rooms Through 2025

Oct 11, 2024, 12:00 PM

New York City is planning to house migrants in hotels through at least 2025. The city will need approximately 14,000 hotel rooms, costing $352 per night per room. This initiative is projected to cost nearly $2 billion annually, with total expenses reaching $5.76 billion by the end of next year. Mayor Eric Adams is leading this effort, which involves renting 150 hotels and is part of the city's response to the ongoing border crisis. The state of New York faces a projected $12 billion in costs due to this situation.