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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 ...
Several federal and state initiatives have targeted this problem, but have failed to provide enough affordable, inclusive, and sustainable housing for New York City residents. The demand for affordable housing in New York City remains high: 2.5 million applications were submitted for 2,600 available affordable apartments in 2016. [63]
As of 2019, about 182 U.S. municipalities had rent control: 99 in New Jersey, 63 in New York, 18 in California, one in Maryland, and Washington, D.C. [70] The five most populous cities with rent control are New York City; Los Angeles; San Francisco; Oakland; and Washington, D.C. [70] The sole Maryland municipality with rent control is Takoma ...
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 ...
NEW YORK - An NYC affordable housing lottery has opened up for a chance to live in what's considered to be the most expensive area to ... You must earn an income of at least $59,280 and no more ...
With a $1,600 monthly housing budget, she says she's been priced out of the market. "It's been a struggle," Duncan said. "As the economy continues to grow, your paycheck don't," she added.
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