Four in ten New Yorkers live in the city's 55,000 multi-family rental properties, according to a new study by the Furman Center for Real Estate and Urban Policy entitled "State of New York City's Housing and Neighborhoods 2010."
More than half the units in the Bronx and Manhattan, the study found, are located in multi-family rental buildings and the median multi-family rental building in these two boroughs is more than 80 years ago. Manhattan buildings tend to be larger, with 37 percent containing 100 or more units compared to 19 percent in the Bronx. In Brooklyn, 37 percent of the buildings have fewer than 20 units.
Overall, 11.5 percent of employed New Yorkers work in the same neighborhood in which they live and 50 percent of workers who live in Chelsea/Clinton/Midtown also work in the neighborhood and 17 percent of them work within a half mile of their home. For every five employed residents who live in university Heights/Fordham, only one New York City resident works in the neighborhood, suggesting a very low level of economic activity in the community.
"Sixteen and a half percent of employed New Yorkers, the study said, work outside of the five boroughs entirely." "Even in neighborhoods with few public transit options that provide direct access to locations outside of the city, such as Williamsburg/Greenpoint and Park Slope in Brooklyn, more than one in ten employed residents work outside of the city. Policymakers interested increasing job growth within the five boroughs may benefit from a close analysis of the types of employment that attract so many New Yorkers to jobs outside of the city limits."
The report said that "there are more than 383,000 units available for low- and moderate-income New Yorkers through public housing and publicly subsidized private developers in the city. About 18.4 percent of residential units citywide are either subsidized under one of the major government construction or rehabilitation program or located in public housing. The highest concentration of those units is in the Bronx (25.8 percent), while in Manhattan, over120,000 units are subsidized for low-and moderate-income tenants. East Harlem has the largest concentration of those units, with 70 percent of its rental stock receiving a subsidy. Queens is the borough with the smallest share of subsidized units (7.7 percent) and three community districts in that borough have no subsidized units at all."
Poverty, the report continued, declined citywide in the last decade: the poverty rate decreased from 21.2 percent in 2000 to 18.7 percent in 2009. The population has continued to grow, led by the Asian population, which increased 32 percent between 2000 ad 2010.
"Households living in multi-family rental properties, according to the report, have lower incomes than other New York City households. Citywide, the median income for these households in 2008 was $36,980, compared with $52,099 for households living in other housing types and $45,970 for all households. Households residing in multi-family rental properties are slightly smaller and younger than other New York City households, with a mean size of 2.1 people and median head of household age of 44, compared with 2.4 people and 46 years old for all households citywide. Fifty percent of New York City's Hispanic households lie in multi-family rental properties, compared with 37 percent of non-Hispanic black households, 36 percent of non-Hispanic white households and only 31 percent of Asian households."
Seventy-four percent of New York City's multi-family rental units are rent-regulated, compared with 50 percent of the overall rental stock. Over 83 percent of multi-family rental units in the Bronx and in Queens and 798 percent in Manhattan are rent-regulated. In Brooklyn, 62 percent are rent-regulated and 58 percent in Staten Island.
More than half the units in the Bronx and Manhattan, the study found, are located in multi-family rental buildings and the median multi-family rental building in these two boroughs is more than 80 years ago. Manhattan buildings tend to be larger, with 37 percent containing 100 or more units compared to 19 percent in the Bronx. In Brooklyn, 37 percent of the buildings have fewer than 20 units.
Overall, 11.5 percent of employed New Yorkers work in the same neighborhood in which they live and 50 percent of workers who live in Chelsea/Clinton/Midtown also work in the neighborhood and 17 percent of them work within a half mile of their home. For every five employed residents who live in university Heights/Fordham, only one New York City resident works in the neighborhood, suggesting a very low level of economic activity in the community.
"Sixteen and a half percent of employed New Yorkers, the study said, work outside of the five boroughs entirely." "Even in neighborhoods with few public transit options that provide direct access to locations outside of the city, such as Williamsburg/Greenpoint and Park Slope in Brooklyn, more than one in ten employed residents work outside of the city. Policymakers interested increasing job growth within the five boroughs may benefit from a close analysis of the types of employment that attract so many New Yorkers to jobs outside of the city limits."
The report said that "there are more than 383,000 units available for low- and moderate-income New Yorkers through public housing and publicly subsidized private developers in the city. About 18.4 percent of residential units citywide are either subsidized under one of the major government construction or rehabilitation program or located in public housing. The highest concentration of those units is in the Bronx (25.8 percent), while in Manhattan, over120,000 units are subsidized for low-and moderate-income tenants. East Harlem has the largest concentration of those units, with 70 percent of its rental stock receiving a subsidy. Queens is the borough with the smallest share of subsidized units (7.7 percent) and three community districts in that borough have no subsidized units at all."
Poverty, the report continued, declined citywide in the last decade: the poverty rate decreased from 21.2 percent in 2000 to 18.7 percent in 2009. The population has continued to grow, led by the Asian population, which increased 32 percent between 2000 ad 2010.
"Households living in multi-family rental properties, according to the report, have lower incomes than other New York City households. Citywide, the median income for these households in 2008 was $36,980, compared with $52,099 for households living in other housing types and $45,970 for all households. Households residing in multi-family rental properties are slightly smaller and younger than other New York City households, with a mean size of 2.1 people and median head of household age of 44, compared with 2.4 people and 46 years old for all households citywide. Fifty percent of New York City's Hispanic households lie in multi-family rental properties, compared with 37 percent of non-Hispanic black households, 36 percent of non-Hispanic white households and only 31 percent of Asian households."
Seventy-four percent of New York City's multi-family rental units are rent-regulated, compared with 50 percent of the overall rental stock. Over 83 percent of multi-family rental units in the Bronx and in Queens and 798 percent in Manhattan are rent-regulated. In Brooklyn, 62 percent are rent-regulated and 58 percent in Staten Island.
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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