A new study entitled Housing Affordability in New York State was released by the New York State Comptroller in March 2014. In analyzing American Community Survey (ACS) data between 2000 and 2012 and the decennial Census in 2000 and 2010, the authors determined that the number of cost burdened renter households increased by 25.7% since 2000, reaching 1.7 million households by 2012. By 2012, more than half of New York’s renter households (50.6%) were cost burdened, and over a quarter of renter households (27.9%) spent over half their income on housing.
Between 2000 and 2012, median household income for renters declined 7.1%, while median rents rose by 18.6%, increasing in 41 of 62 counties. Falling incomes contributed to the rise in the number of cost burdened renter households across the state.
The proportion of cost burdened renter households increased in all but four counties between 2000 and 2012. The percentage of cost burdened renter households was highest in urban Bronx County (57.6%), but second highest in rural Greene County in upstate New York (57.5%) in 2012. Overall, the counties with the highest percentage of cost burdened renter households were concentrated in the Hudson Valley region.
The report, Housing Affordability in New York State, may be accessed at: http://bit.ly/1qtbKIy