1 in 3 New Yorkers spends half their income on rent: ‘staggering’ report

NY Post ^ | 10/17/2023 | Brooke Kato

[ChicagoConservative27]

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.

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.

[ChicagoConservative27]

I wonder who they voted for again...…(SARC)

[z3n]

The other half to taxes.

But hay, if you can make it there, you can make it any where, takes on a stark meaning

[albie]

Good! Glad the landlords are doing well. Maybe they’ve been voting for economic freedom unlike the tool bags that are renting.

[NautiNurse]

Great post.

[FlingWingFlyer]

The have to spend the other half on rent from illegal aliens.

[CIB-173RDABN]

https://www.youtube.com/watch?v=_T7Wpg7A_xw

This an apartment in New York, only $650 a month. The home office I am sitting in right now is bigger!

[tlozo]

The survey found that 24% of New York residences had rodent infestations, 18% had leaks, 17% reported cracks in floors and ceilings, 16% had heat outages in the winter and 9% had mold.

Stein and Mironova are calling for stronger rent regulations, such as limiting price hikes

Idiocy

[Dilbert San Diego]

Does New York still have rent control?

[Olog-hai]

https://rentguidelinesboard.cityofnewyork.us/resources/faqs/rent-control/

[VideoPaul]

But let’s do everything we can to jack up the prices and increase taxes. and let’s not forget the hundreds of thousands of illegal aliens that you “welcomed with open arms” until thy actually started arriving.

[Olog-hai]

[roadcat]

... rodent infestations, 18% had leaks, 17% reported cracks in floors and ceilings, ...

Perhaps the tenants should move to better places (or states). Or help out by cleaning their own apartments. Take the initiative and sparkle cracks, paint walls, etc. Darn lazy tenants.

[NorthMountain]

It is idiocy ... "The building is desperately in need of repair ... let's deny the owner the funds necessary to repair it!"

I suggest that only landowners be granted the vote.

[PMAS]

Of course they still have rent control

[SaxxonWoods]

I was a hands-on landlord for about 35 years, total of 9 different rentals. I sold my last 4 units just before COVID.
It was a good run and now it’s nice to just buy Bonds and raw land with the cash raised by selling the rentals.

[mewzilla]

Yes, and that’s part of the reason rents are so high.

NYC also has RCV.

And NOT because they happily vote for this ****.

[Bonemaker]

I want 3 out of 3.

[Psalm 73]

"...a third of New Yorkers are forking over half their income for rent."

But hey - they get to live in New York City....

/sarc

[amnestynone]

I can’t understand why it is only a third. I would think it would be higher.

[millenial4freedom]

the landlords are probably egging on the politicians of the city to give housing waivers/Section 8 benefits to illegal aliens...very little risk for the landlord.