Census data show housing availability and affordability continuing to be a serious problem for New Yorkers
Thu, Feb 26, 2015 - 5:50 AM
In a city where two of every three homes is a rental, the median rent rose 3.4 per cent, after adjusting for inflation, to US$1,200 a month from 2011 to 2014. When factoring in utility costs, the median rose 4.3 per cent, to US$1,325.
NEW York City rents rose faster than inflation over the past three years, continuing a housing squeeze that has been particularly felt by lower-income tenants and shows no signs of abating, new figures from the Census Bureau show.