1 in 3 New Yorkers spends half their income on rent_ ‘staggering’ report
As one of the most expensive cities in the world, it should come as no surprise that a third of New Yorkers are forking over half their income for rent. NY Post reporter Brooke Kato shares this story.
The devastating data comes from the latest report from the nonprofit the Community Service Society of New York, which found that 55% of households, or nearly 1.2 million households, in the Big Apple were “rent-burdened” in 2021, meaning tenants spent at least 30% of their income on rent.
A staggering 34% of the city’s tenants were classified as “severely rent-burdened,” spending at least half their income on monthly rent as rates soar well above the median income.
In short: Housing is becoming too expensive for the average New Yorker.
It’s not necessarily a new trend — since 2005, the average NYC renter has been rent-burdened, according to the report, which is based on answers to the city’s Housing and Vacancy Survey.
Read more at https://nypost.com/2023/10/17/1-in-3-new-yorkers-spend-half-their-income-on-rent-report/
#rent #nyc
The New York Post is your source for breaking news, news about New York, sports, business, entertainment, opinion, real estate, culture, fashion, and more.
Subscribe to New York Post Sports: https://www.youtube.com/c/nypostsports
Catch the latest news here: https://nypost.com/
Follow The New York Post on:
Twitter - https://twitter.com/nypost
Facebook - https://www.facebook.com/NYPost
-
16:59
Exploring With Nug
21 hours ago2 Cars Found While Searching For Missing Man!
3.86K1 -
11:32
JoBlo Horror Originals
22 hours agoWhat REALLY Happened To The Entity?
2703 -
7:10:20
SNEAKO
10 hours agoYOU DONT WANNA MISS THIS… (surprise guest)
93.3K37 -
Alex Zedra
10 hours agoLIVE! Girls Scary Game Night
62K28 -
Fresh and Fit
13 hours agoThe End Of An Era. We Are Leaving YouTube.
147K171 -
34:46
Man in America
16 hours agoSHOCKING Proof: Grocery Prices Tripled in Just Two Years!!! w/ Dr. Kirk Elliott
55.9K38 -
6:52
Chrissy Clark
1 day agoTikToker Melts Down Over Supreme Court Ruling
61.7K43 -
1:29:44
Kim Iversen
12 hours agoSCOTUS Backs Corporate Censorship Powers. RFK Jr Hit Piece Hits New Low
77.4K86 -
1:30:00
Deprogrammed with Keri Smith
20 hours agoAmerica! F@%&! Yeah! - America vs Commies in Film - LIVE Popped Culture
61K1 -
20:37
ROSE UNPLUGGED
18 hours ago4th of July Message and Kelsey Grammer Interview
55.4K10