Report: Working poor, middle class feel the pinch as NYC rents r - FOX 10 News | myfoxphoenix.com

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>>

  • 2 upper level GWB east lanes closed for repairs

    2 upper level GWB east lanes closed for repairs

    Tuesday, July 22 2014 1:19 PM EDT2014-07-22 17:19:59 GMT
    Workers have closed two upper level eastbound lanes on the George Washington Bridge for emergency repairs. The closures affect New York City bound motorists. Officials expect the lanes will remain closed until 3 p.m. Tuesday. Motorists heading into New York City should use the lower level or consider alternate Hudson River crossings.
    Workers have closed two upper level eastbound lanes on the George Washington Bridge for emergency repairs. The closures affect New York City bound motorists. Officials expect the lanes will remain closed until 3 p.m. Tuesday. Motorists heading into New York City should use the lower level or consider alternate Hudson River crossings.
  • FAA bans all flights to Tel Aviv airport

    FAA bans all flights to Tel Aviv airport

    Tuesday, July 22 2014 12:59 PM EDT2014-07-22 16:59:29 GMT
    The Federal Aviation Administration has banned U.S. carriers from flying to Israel's main airport for 24 hours. The FAA made the announcement at about 12:40 p.m. on Tuesday. This comes after two U.S. airlines cancelled all flights to Israel until further notice following a rocket landing near the Ben-Gurion Airport earlier in the day.
    The Federal Aviation Administration has banned U.S. carriers from flying to Israel's main airport for 24 hours. The FAA made the announcement at about 12:40 p.m. on Tuesday. This comes after two U.S. airlines cancelled all flights to Israel until further notice following a rocket landing near the Ben-Gurion Airport earlier in the day.
  • White flags raised at Brooklyn Bridge

    White flags raised at Brooklyn Bridge

    Tuesday, July 22 2014 12:52 PM EDT2014-07-22 16:52:11 GMT
    Police responded to the Brooklyn Bridge on Tuesday for a major security breach at one of the most highly secured landmarks in New York City. Two white flags — international symbols of surrender — fluttered from poles on the stone supports that hold cables above the span connecting Brooklyn and Manhattan. It is not clear who raised the flags that had a faint appearance of the stars and stripes or why.  The American flags that are normally up at the bridge were removed.
    Police responded to the Brooklyn Bridge on Tuesday for a major security breach at one of the most highly secured landmarks in New York City. Two white flags — international symbols of surrender — fluttered from poles on the stone supports that hold cables above the span connecting Brooklyn and Manhattan. It is not clear who raised the flags that had a faint appearance of the stars and stripes or why.  The American flags that are normally up at the bridge were removed.
Powered by WorldNow

KSAZ-TV & KUTP
511 W. Adams St.
Phoenix, AZ 85003

Phone: (602) 257-1234
Fax: (602) 262-0177

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