For most New Yorkers — about two-thirds of whom are renters — living in the city means accepting the painful reality of ever-increasing rents, which are as much a part of the experience as noisy neighbors, hissing steam radiators and cramped kitchens.
Even those lucky enough to have rent-stabilized places face annual increases, and for everyone else, it is much worse. According to a new report from StreetEasy, the average rent increase citywide between 2010 and 2018 was 31 percent — with many expensive Manhattan neighborhoods experiencing the smallest increases and areas that were gentrified during those years being hit by some of the biggest ones.
Join the conversation! Discuss this or any article at the Supportive Housing Resource Exchange.
Source: Coalition for the Homeless