NY comptroller DiNapoli: Housing cost pinch worsening
ALBANY— Housing is becoming unaffordable for millions of New Yorkers amid declining incomes and increasing costs for rent and home ownership, state Comptroller Thomas DiNapoli said Monday.
DiNapoli analyzed census data showing that the median statewide monthly housing costs increased 18.6 percent for renters and 9.9 percent for homeowners from 2000 to 2012. During the same time, homeowners’ median household income decreased 1.6 percent and renters’ median household income dropped 7.1 percent.
Affordable housing is defined by the federal government as being below 30 percent of household income. DiNapoli said that means more than 3 million households statewide paid at least 30 percent of their 2012 income for a place to live.