- The rent is too damn high March 12
New Yorkers love to complain about rent increases, but according to a new report, their arguments aren't without merit. A new housing affordability report from Comptroller Thomas DiNapoli shows that more than 50 percent of New York state residents are paying rent above their affordability level.
In 2012, more than 25 percent of rental households paid rents at or above their total household income, which the Census Bureau classifies as "severely housing-cost burdened." According to federal guidelines, housing is considered unaffordable when it consumes more than 30 percent of household income.
Unsurprisingly, the percentages are even higher in New York City neighborhoods, with 57 percent of Bronx residents and 53 percent of Brooklyn residents contributing more than 30 percent of income to housing costs. Maybe Jimmy McMillan really is onto something. --Meghan DeMaria
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- Why you should stop believing in evolution
- 7 of the scariest spiders in existence
- 4 things NASA can teach you about a good night's sleep
- Why isn't 'Arkansas' pronounced like 'Kansas'?
- Welcome to the age of ambivalent feminism
- It's time for the police to rethink 'shoot-to-kill'
- The secret to handling pressure like astronauts, Navy SEALs, and samurai
- How Israel's hawks intimidated and silenced the last remnants of the anti-war left
- This 1,600-year-old Viking war game is still awesome
- Is the Christian music industry liberalizing on gay marriage?
Subscribe to the Week