New York City Median Renter Income Continued Its Upward Trend
Between 2015 and 2016, real median renter household income continued an upward trajectory, increasing by 4.6% to $45,750. Over the same time period, median rent also increased, though by just 1.5%, the smallest year-over-year increase since 2012. Median rent for all units citywide was $1,350 in 2016. Despite recent income gains and the slowing of rent increases, increases in median rent outpaced increases in median renter household income by 7 percentage points between 2005 and 2016.
Last week, the U.S. Census Bureau released the 2016 one-year estimates from the American Community Survey. To view the latest 2016 data for New York City and its neighborhoods, including rent and income indicators, visit CoreData.nyc.