Report: Working poor, middle class feel the pinch as NYC rents r - FOX13 News, WHBQ FOX 13

Report: Working poor, middle class feel the pinch as NYC rents rise

Posted: Updated:
NEW YORK (MYFOXNY) -

Expensive rent in New York City is not surprising. But a new study shows just how unaffordable it has become. In the last 12 years rent has gone up 75 percent, all while many New Yorkers are making less and less money.

Brooklyn resident Marissa Franco is right in the middle of a growing housing gap in New York City. The price of her rent just keeps going up.

"In New York we have people coming from all over the world who want to live here so with all that money pouring in the rents are just going to rise higher than anywhere else in the country," says Lauren Lyons Cole, a financial expert.

A report from Comptroller Scott Stringer details data from 2000 to 2012. It states that the working poor, making less than $40,000 a year, are seeing the harshest consequences.

The report found trendy neighborhoods Williamsburg, Greenpoint, and Fort Greene in Brooklyn saw some of the sharpest rent increases. Stringer's report says the crunch is occurring despite significant affordable housing investments from former Mayor Mike Bloomberg. It calls on Mayor Bill de Blasio to do more.

The mayor has promised to create 200,000 affordable housing units. He is expected to make a housing proposal in May.

  • Local NewsLocal NewsMore>>

  • Officials: Piece of jet fell onto Long Island yard

    Officials: Piece of jet fell onto Long Island yard

    Saturday, August 23 2014 2:33 PM EDT2014-08-23 18:33:40 GMT
    Authorities are trying to figure out how if a metal part from a jet airliner fell out of the sky and landed in a Long Island yard.
    Authorities are trying to figure out how if a metal part from a jet airliner fell out of the sky and landed in a Long Island yard.
  • Thousands march in Staten Island to honor Eric Garner, Michael Brown

    Thousands march in Staten Island to honor Eric Garner, Michael Brown

    Saturday, August 23 2014 1:35 PM EDT2014-08-23 17:35:39 GMT
    Thousands of protesters packed in cars and caravans, crossed over the Verrazano-Narrows Bridge Saturday to protest the death of Eric Garner, the man who died last month after being put in a chokehold by an NYPD officer.
    Thousands of protesters packed in cars and caravans, crossed over the Verrazano-Narrows Bridge Saturday to protest the death of Eric Garner, the man who died last month after being put in a chokehold by an NYPD officer.
  • Police: 5 suspects wanted in Central Park attack

    Police: 5 suspects wanted in Central Park attack

    Saturday, August 23 2014 12:27 PM EDT2014-08-23 16:27:52 GMT
    Police are looking for five suspects in a Central Park pellet attack they're investigating as a hate crime.
    Police are looking for five suspects in a Central Park pellet attack they're investigating as a hate crime.
Powered by WorldNow

WHBQ-TV | Fox 13
485 S. Highland St.
Memphis, TN 38111

Main Station: (901) 320-1313
Newsroom: (901) 320-1340

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices