Sign Up
Facebook
Twitter
LinkedIn
Renter Household
In the New York metro, 49.1% of households rented their homes in 2015, compared to 45.7% in 2006. In 2015, 48.6% of households with one or more children, and 36.1% of households that included one or more seniors, rented their homes.
Rents
Real median gross rent* for two bedroom rental units in the New York metro increased by 10.9%, from $1,200 in 2006 to $1,330 in 2015. Recently available two bedroom rentals - units that had new occupants within the last 12 months - had a median rent of $1,630 in 2015, representing a premium of $300.
Affordability
In 2015, 50.0% of renter households in the New York metro were rent burdened** and approximately 27.3% of renter households were severely rent burdened.** Households earning the median income in the New York metro ($68,930 in 2015) could afford 59.3% of recently available rental units in 2015, down from 68.1% in 2006. Households earning half of the New York metro's median income ($34,470 in 2015) could afford 12.9% of recent rentals in 2015, about the same as 13.4% in 2006.
Rental Stock
In the New York metro, 10.7% of renter households lived in single family homes and 89.3% lived in multifamily buildings in 2015, compared to 9.1% and 90.9% in 2006, respectively. There were 3,653,023 rental housing units in the New York metro in 2015, a 10.1% increase from 2006.*** During the same period, the population in the New York metro increased by 2.4%. The New York metro rental vacancy rate was 4.2% in 2015.
*All dollar amounts are in 2015 dollars.
**Rent burdened household spend more than 30% of pre-tax income on rent and severely rent burdened households spend more than 50% of pre-tax income on rent.
***This includes both owner-occupied units that converted to rental units and newly constructed rental units.
| 2006 | 2009 | 2012 | 2015 | 2015 Rank | |
|---|---|---|---|---|---|
Renter Household Demographics |
|||||
| Population | |||||
| Total population | 18,054,908 | 18,199,528 | 18,515,001 | 18,487,613 | 1 |
| Total population living in renter-occupied units | 7,437,159 | 7,750,093 | 8,234,335 | 8,426,460 | 1 |
| Total population living in owner-occupied units | 10,617,749 | 10,449,435 | 10,280,666 | 10,061,153 | 1 |
| Tenure | |||||
| Total households | 6,937,712 | 7,018,258 | 7,107,109 | 7,127,877 | 1 |
| Total renter-occupied households | 3,167,616 | 3,276,844 | 3,412,454 | 3,498,424 | 1 |
| Total owner-occupied households | 3,770,096 | 3,741,414 | 3,694,655 | 3,629,453 | 1 |
| Share of households that were renters | 45.7% | 46.7% | 48.0% | 49.1% | 2 |
| Share of households that were owners | 54.3% | 53.3% | 52.0% | 50.9% | 52 |
| Income | |||||
| Median household income, all households | $69,010 | $70,260 | $65,240 | $68,930 | 8 |
| Median household income, renter households | $42,320 | $44,190 | $41,290 | $43,400 | 11 |
| Share of all households earning <50% of AMI | 28.2% | 28.6% | 28.8% | 30.1% | 1 |
| Share of all households earning 50%-80% of AMI | 14.9% | 15.3% | 14.7% | 14.4% | 52 |
| Share of all households earning 80%-120% of AMI | 17.2% | 16.5% | 16.4% | 16.2% | 46 |
| Share of all households earning >120% of AMI | 39.8% | 39.5% | 40.1% | 39.4% | 40 |
| Share of households earning <50% of AMI that rent | 71.6% | 71.6% | 72.7% | 73.4% | 2 |
| Share of households earning 50-80% of AMI that rent | 56.1% | 57.1% | 58.3% | 56.9% | 5 |
| Share of households earning 80-120% of AMI that rent | 45.3% | 45.9% | 47.8% | 48.0% | 4 |
| Share of households earning >120% AMI that rent | 23.5% | 24.9% | 26.6% | 28.1% | 6 |
| Household Type | |||||
| Share of family households that were renters | 66.6% | 66.2% | 65.9% | 65.8% | 18 |
| Share of non-family households that were renters | 33.4% | 33.8% | 34.1% | 34.2% | 35 |
| Share of renter households that are families | 54.6% | 55.0% | 55.5% | 55.5% | 15 |
| Share of renter households that are nonfamily | 45.4% | 45.0% | 44.5% | 44.5% | 38 |
| Share of households with children that were renters | 42.4% | 44.1% | 47.4% | 48.6% | 4 |
| Share of households with seniors that were renters | 35.8% | 35.5% | 34.7% | 36.1% | 1 |
| Share of renter households earning <50% of AMI | 44.1% | 43.9% | 43.6% | 44.9% | 15 |
| Share of renter households earning 50%-80% of AMI | 18.3% | 18.7% | 17.9% | 16.7% | 52 |
| Share of renter households earning 80%-120% of AMI | 17.0% | 16.2% | 16.3% | 15.8% | 42 |
| Share of renter households earning >120% of AMI | 20.5% | 21.1% | 22.2% | 22.6% | 13 |
| Employment | |||||
| Share of renter households with employed members | 72.6% | 73.0% | 74.1% | 75.3% | 31 |
| Share of renter households with no employed members | 27.4% | 27.0% | 25.9% | 24.7% | 23 |
| Education | |||||
| Share of households with high school or less that were renters | 59.8% | 60.4% | 62.2% | 63.5% | 2 |
| Share of households with some college that were renters | 45.9% | 49.4% | 51.5% | 53.9% | 2 |
| Share of households with a college degree that were renters | 34.7% | 36.2% | 37.6% | 39.0% | 4 |
| Share of renter households with high school or less | 45.6% | 41.1% | 39.2% | 37.3% | 34 |
| Share of renter households with some college | 20.1% | 22.4% | 22.8% | 22.3% | 51 |
| Share of renter households with a college degree | 34.3% | 36.4% | 38.0% | 40.4% | 9 |
| Race and Ethnicity | |||||
| Share of Asian households that were renters | 47.1% | 47.8% | 48.5% | 49.1% | 3 |
| Share of black households that were renters | 65.0% | 65.6% | 66.2% | 67.3% | 8 |
| Share of Hispanic households that were renters | 69.3% | 69.0% | 70.7% | 70.0% | 1 |
| Share of white households that were renters | 31.7% | 33.1% | 33.3% | 34.6% | 9 |
Rental Housing Affordability |
|||||
| Rent | |||||
| Median rent ($2015), all units | $1,140 | $1,220 | $1,230 | $1,290 | 6 |
| Median rent ($2015), studio and 1 bedroom units | $1,060 | $1,100 | $1,100 | $1,160 | 4 |
| Median rent ($2015), 2 bedroom units | $1,200 | $1,270 | $1,280 | $1,330 | 7 |
| Median rent ($2015), 3+ bedroom units | $1,410 | $1,550 | $1,500 | $1,550 | 8 |
| Median rent, ($2015), all recently available units | $1,380 | $1,460 | $1,390 | $1,530 | 7 |
| Median rent ($2015), recently available studio and 1 bedroom units | $1,200 | $1,270 | $1,240 | $1,420 | 4 |
| Median rent ($2015), recently available 2 bedroom units | $1,480 | $1,550 | $1,480 | $1,630 | 6 |
| Median rent ($2015), recently available 3+ bedroom units | $1,820 | $1,870 | $1,780 | $1,870 | 7 |
| Premium of recently available units | $240 | $240 | $160 | $240 | 5 |
| Premium of recently available studio and 1 bedroom units | $140 | $170 | $140 | $260 | 5 |
| Premium of recently available 2 bedroom units | $280 | $280 | $200 | $300 | 4 |
| Premium of recently available 3+ bedroom units | $410 | $320 | $280 | $320 | 4 |
| Rent Burden | |||||
| Share of renter households that were rent burdened | 47.3% | 48.3% | 50.8% | 50.0% | 10 |
| Share of renter households with seniors that were rent burdened | 55.3% | 55.4% | 55.9% | 56.5% | 15 |
| Share of renter households with children that were rent burdened | 52.2% | 53.0% | 56.6% | 54.3% | 8 |
| Share of renter households earning <50% of AMI that were rent burdened | 77.9% | 78.1% | 78.8% | 77.9% | 32 |
| Share of renter households earning between 50% and 80% of AMI that were rent burdened | 47.5% | 51.7% | 59.9% | 56.7% | 12 |
| Share of renter households earning between 80% and 120% of AMI that were rent burdened | 19.0% | 20.6% | 27.2% | 26.1% | 7 |
| Share of renter households earning >120% of AMI that were rent burdened | 4.7% | 4.6% | 6.1% | 6.4% | 4 |
| Share of renter households that were severely rent burdened | 25.7% | 26.0% | 28.2% | 27.3% | 4 |
| Share of renter households with seniors that were severely rent burdened | 31.0% | 31.3% | 31.7% | 31.9% | 12 |
| Share of renter households with children that were severely rent burdened | 29.4% | 29.7% | 32.9% | 31.2% | 4 |
| Share of renter households earning <50% of AMI that were severely rent burdened | 53.9% | 53.9% | 58.2% | 55.4% | 13 |
| Share of renter households earning between 50% and 80% of AMI that were severely rent burdened | 8.4% | 10.4% | 12.7% | 11.3% | 9 |
| Share of renter households earning between 80% and 120% of AMI that were severely rent burdened | 2.0% | 2.1% | 3.3% | 3.3% | 3 |
| Share of renter households earning >120% of AMI that were severely rent burdened | 0.2% | 0.2% | 0.2% | 0.1% | 12 |
| Rental Unit Availability | |||||
| Share of recently available rental units affordable for households earning 50% of AMI | 13.4% | 14.1% | 11.4% | 12.9% | 41 |
| Share of recently available rental units affordable for households earning 80% of AMI | 49.0% | 45.7% | 41.8% | 39.2% | 48 |
| Share of recently available rental units affordable for households earning 100% AMI | 68.1% | 65.3% | 62.0% | 59.3% | 50 |
| Share of recently available rental units affordable for households earning 120% of AMI | 81.2% | 78.4% | 75.4% | 72.4% | 51 |
Rental Housing Stock |
|||||
| Housing units | |||||
| Number of occupied housing units | 6,937,712 | 7,018,258 | 7,107,109 | 7,127,877 | 1 |
| Number of owner-occupied housing units | 3,770,096 | 3,741,414 | 3,694,655 | 3,629,453 | 1 |
| Number of renter-occupied housing units | 3,167,616 | 3,276,844 | 3,412,454 | 3,498,424 | 1 |
| Number of vacant units for rent | 151,453 | 176,331 | 153,644 | 154,599 | 1 |
| Rental vacancy rate | 4.6% | 5.1% | 4.3% | 4.2% | 43 |
| Building Type | |||||
| Share of rental units that are single-family homes | 9.1% | 10.0% | 11.0% | 10.7% | 53 |
| Share of rental units that are in multi-family buildings | 90.9% | 90.0% | 89.0% | 89.3% | 1 |
| Bedroom Type | |||||
| Share of rental units that are studios or 1 bedrooms | 45.5% | 45.3% | 44.5% | 43.8% | 1 |
| Share of rental units that are 2 bedroom units | 35.2% | 34.7% | 34.7% | 35.4% | 45 |
| Share of rental units that are 3+ bedroom units | 19.3% | 20.0% | 20.8% | 20.8% | 52 |
All content © 2005 – 2024 Furman Center for Real Estate and Urban Policy | Top of page | Contact Us
