New Rental Housing Landscape Illustrates NYC Rental Housing Trends
More than one million households in New York City are rent-burdened, which means they are paying 30 percent or more of household income on rent, and nearly 600,000 of those households are severely rent-burdened, or paying more than 50 percent of their income on rent, according to the newly released NYU Furman Center/Capital One Affordable Housing Landscape.
The Landscape, an infographic released today by the NYU Furman Center and Capital One, provides a detailed look into rental housing affordability trends in New York City from 2000 to 2012 and illustrates how trends in affordable rental housing affected New Yorkers as rents continued to increase, incomes stagnated, and the share of renters paying a high percentage of their income rose.
The Furman Center's past research has shown that over half of renter households in New York City are rent burdened, paying more than 30 percent of their gross income on rent and utilities. This study delves more deeply into recent trends in rent levels, rent burdens, affordable units, and the gap between the number of low-income households in need of affordable housing and the number of existing affordable units. This analysis is based on data from the U.S. Census Bureau, including data from the American Community Survey from 2005 through 2012.
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