BY ARIEL HERNANDEZ
Affordable housing is a recurring concern for New York City as a whole, with the major question being “What is affordable housing?”
Last week RENTCafé, a nationwide apartment search website, released the findings from its most recent study where it looked at all five boroughs within New York City to see how the idea of homeownership is evolving among the top-earning households.
According to its findings, the number of affluent renters-by-choice in Queens has soared by 247 percent, from 8,500 in 2005 to 29,500 in 2015. By comparison, though there are more than twice as many owner-occupied households that earn over $150,000 a year in Queens, their numbers only increased by 111 percent over the 10-year period.
The study showed that Queens saw the second-highest influx of rich renters in the last decade, compared to Brooklyn’s 324 percent increase.
While the majority of the New York City population is struggling with high rents, this study shows that there are those who don’t. According to RENTCafé, New York City has more high-income renters than all the affluent renters in San Francisco, Los Angeles, Chicago, Houston, San Jose and San Diego combined.
The full report can be seen at: http://www.rentcafe.com/blog/rental-market/new-york-high-income-renters/
Reach Ariel Hernandez at (718) 357-7400 x144 or firstname.lastname@example.org