- 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
- The mystery behind China's aggressive push into space
- Here's the schedule very successful people follow every day
- The best places to find love — and lust — according to science
- What would a U.S.-Russia war look like?
- 7 grammar rules you really should pay attention to
- 7 ideas from ancient thinkers that will improve your modern life
- The 11 worst fast food restaurants in America
- Boyhood's refreshingly unsentimental take on motherhood
- Why all drugs should be legal. (Yes, even heroin.)
- The 5 best and worst states for a well-lived life
Subscribe to the Week