this post was submitted on 10 Feb 2024
64 points (100.0% liked)

News

23296 readers
3345 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 1 year ago
MODERATORS
 

The city’s rental vacancy rate fell to its lowest level since 1968.

New York City’s housing market is the tightest it’s been in more than five decades, with just 1.4 percent of rental apartments vacant and available, a new survey found.

The citywide vacancy rate stands at its lowest since 1968, qualifying as a certified “housing emergency.” The report offers a striking illustration of the shortage: Residential construction has failed to keep pace with demand and low-cost homes in particular have become exceedingly scarce, threatening the ability of financially struggling residents to live in the nation’s largest city, according to the findings from the city’s housing agency.

As a result, lower-income New Yorkers are spending more of their paychecks on rent. Among households earning less than $25,000 per year without rental assistance, 86 percent were severely rent-burdened — defined as paying more than half of one’s income on rent. The survey also found an “alarming increase” in missed payments and arrears.

you are viewing a single comment's thread
view the rest of the comments
[–] ripcord@lemmy.world 15 points 9 months ago (2 children)

I'm having a tough time believing any household earning less than 25k is able to rent anywhere near NYC without assistance, even with rent control.

Like, even if rent was free you'd think cost of living would take up all money, so how could anything be available for rent

[–] cooljacob204@kbin.social 3 points 9 months ago (1 children)

Lol try less then 60k. Maybe even more.

[–] pete_the_cat@lemmy.world 4 points 9 months ago

Try about 85-90k for a studio anywhere in Manhattan below 80th St. I moved to Hell's Kitchen in 2017 and was paying $2685 for a "luxury" (gym, laundry in the building, etc..) 450 or less SQ ft studio and was making 85k/year and that was easily 60% of my monthly income.

In 2021 I moved down to The Financial District and got a much larger studio (because buildings were hurting for income) for $2500/month but in 2022 when everything started to open back up the increased the rent for the new lease to $3500.

I moved about an hour out into Brooklyn (Windsor Terrace) and got a 1 BR in a "basic" apartment (only laundry in the basement) for $2500/months.

"Luckily" about 3 weeks before my lease was up I lost my job and made the smart decision to move out of NYC and the area completely. I live down in Miami now, which is just as expensive (I'm in their Financial District, Brickell) but I get a lot more for my money and it's a hell of a lot nicer. My rent is $100 more a month and I have W/D in my apartment and a pool, along with all the other "luxury" amenities that you'd find in a mid-high end (3-5 grand a month) Manhattan apartment.

[–] pete_the_cat@lemmy.world 3 points 9 months ago* (last edited 9 months ago)

You can't even sneeze in NYC for 25k. I was making 50K and living in Hoboken in 2016 and was just barely scraping by, and my rent was only about $1600/month.

60k is probably the bare minimum for non-section 8, and that's gonna be a tiny little dog shit apartment, unless you're far out in one of the boroughs other than Manhattan. A friend was paying $800/month for an apartment... But she was down in Great Kills in Staten Island, living in an above the garage apartment attached to a house. It was like a 45-50 minute drive for her to get into Lower Manhattan.

Last year I lived in a 1 BR by myself an hour away from Manhattan (by subway, about a half hour drive) and it was $2500/month for about 550 SQ ft with two built in AC units, a dishwasher, and paid laundry in the basement.