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Almost half — 49.7% — of American renter households spent more than 30% of their income on housing costs, according to data released by the US Census Bureau from its 2023 American Community ...
The housing shortage in New York is driven by a lack of housing supply. Home construction in New York City lags far behind other major American cities. [4] From 2010 to 2023, housing supply in the city increased by 4% while jobs increased by 22% [4]; however, 973,000 workers commuted into the city from its suburbs as of 2019 [5], as employment ...
The New York City Housing Authority (NYCHA) is a public development corporation which provides public housing in New York City, and is the largest public housing authority in North America. Created in 1934 as the first agency of its kind in the United States, it aims to provide decent, affordable housing for low- and moderate-income New Yorkers ...
In early February, vacancy rates in New York City hit rock bottom at just 1.4%. That’s the lowest vacancy rate on record since the city started tracking the measure in the 1960s, according to ...
While 40% of these homes would be reserved for extremely low-income residents and 30% for low-income households, about 30% would be available to middle-income households.
New York City has a shortage of affordable housing resulting in overcrowding and homelessness. New York City attracts thousands of new residents each year and housing prices continue to climb. Finding affordable housing affects a large portion of the city's population including low-income, moderate-income, and even median income families. [62]
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