NYC Rents Rising Twice As Fast As Wages, Except for Wealthiest, Study Finds
Compounding the city’s affordability crisis: rents in the city rose twice as fast as wages, according to the analysis, which compared the StreetEasy Rent Index with wage data from the city’s Department of Labor. While median rents increased 3.9 percent a year since 2010, wages increased by 1.8 percent over the same period. Those working in the city’s lowest wage jobs were hit hardest. Low-wage earners — those in the bottom 20 percent of the workforce, which represent a little
Thousands of Bronx Rent Stabilized Apartments At Risk As NYC Begins Phasing Out Homeless Shelter Clu
Gothamist just reported that thousands of rent stabilized apartments in New York City―the overwhelming majority which are in The Bronx―are in danger of being deregulated as NYC continues to phase out the notorious cluster site homeless shelter program that enticed landlords with on average double the average rents in order to house homeless families. The average price per unit that the city was paying? $2,451 a month and yes, these were rents being paid in The Bronx too well
Annual count finds 40 percent increase in street homeless
An annual count of the city’s unsheltered population showed a 40 percent increase in homeless people on city streets, despite the efforts of the de Blasio administration to curb the rising rate of homelessness. There were 3,892 people homeless and unsheltered in 2017, according to the estimate conducted in February, up from 2,794 last winter. It was the largest number since 2005, when the city first began estimating the unsheltered population. Mayor Bill de Blasio has grapple
Report: Rents Rose, But So Did Poverty
In many of the neighborhoods targeted by the de Blasio administration for a rezoning, rising levels of rent are occurring simultaneous to increases in poverty in certain census tracts—creating a complicated picture, where the threats of gentrification are felt equally alongside the pains of deprivation. According to the report, released in conjunction with the 2016 State of New York City Housing and Neighborhoods Report, in the 2011-2015 span, 20.6 percent of New Yorkers live
East Harlem Rezoning could be boon for landlords
The city’s bid to rezone a large chunk of Harlem will increase the development potential of at least 50 properties owned by a motley collection of landlords—some of whom may be less than deserving of a big payday. A Manhattan community board is set to weigh in this month on the East Harlem rezoning plan, which will boost the allowable size of buildings along certain corridors of a 96-block area. The change could create as many as 3,500 new apartments if the City Council signs
30% Of The Black-Owned Businesses In New York Disappeared In 5 Years
The rapid gentrification of NYC neighborhoods has led to an economic boom — and a collapse in black-owned businesses. New York's fast-gentrifying neighborhoods have contributed to an economic boom in the city over the last 15 years, with the number of new storefronts and companies increasing by 45%. But those economic gains have not been shared by all residents, according to a new report from the city comptroller's office. Read more here #harlem #deblasio #momandpop #black #s
The Gentrification of Gotham
A new report from the New York City Comptroller’s office compares economic and demographic profiles at the neighborhood level in the Big Apple from 2000 and 2015. Comptroller Scott Stringer reveals just how profoundly the city has been transforming in the 21st century by comparing business and neighborhood details in 2000 and 2015. Dig around in the data and you’ll find detailed portraits of the city before and after gentrification, for better or worse. Have a look on citylab
