Report: Working poor, middle class feel the pinch as NYC rents r - FOX 29 News Philadelphia | WTXF-TV

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>>

  • OCME: Police chokehold caused Eric Garner's death

    OCME: Police chokehold caused Eric Garner's death

    Friday, August 1 2014 7:19 PM EDT2014-08-01 23:19:02 GMT
    The New York City medical examiner ruled Friday that a police officer's chokehold caused the death of a man whose videotaped arrest and final pleas of "I can't breathe!" sparked outrage and led to the announcement of a complete overhaul of use-of-force training for the nation's largest police force.
    The New York City medical examiner ruled Friday that a police officer's chokehold caused the death of a man whose videotaped arrest and final pleas of "I can't breathe!" sparked outrage and led to the announcement of a complete overhaul of use-of-force training for the nation's largest police force.
  • 'Ice bucket challenge'

    NY man with ALS gets support from friends and strangers

    NY man with ALS gets support from friends and strangers

    Friday, August 1 2014 7:14 PM EDT2014-08-01 23:14:45 GMT
    When he was 31, Patrick Quinn, of Queens, received the life-changing news: he has ALS. It all started after a softball game in 2011. After two years of countless medical tests, the diagnosis was final. Since then, Quinn has watched his body change. His arms are much thinner. His biceps and triceps have atrophied. His hands have lost all muscle.
    When he was 31, Patrick Quinn, of Queens, received the life-changing news: he has ALS. It all started after a softball game in 2011. After two years of countless medical tests, the diagnosis was final. Since then, Quinn has watched his body change. His arms are much thinner. His biceps and triceps have atrophied. His hands have lost all muscle.
  • 'Get on Up' and James Brown's Harlem legacy

    'Get on Up' and James Brown's Harlem legacy

    Friday, August 1 2014 5:55 PM EDT2014-08-01 21:55:13 GMT
    "Get on Up" is in theaters now. The film chronicles the career of James Brown, who had a special connection to Harlem and New York. Billy Mitchell is the in-house historian at the historic Apollo Theater. He says the Apollo was a second home to Brown, as it was here where he became an international superstar who appealed to all. But Brown's NYC legacy stretches even further.
    "Get on Up" is in theaters now. The film chronicles the career of James Brown, who had a special connection to Harlem and New York. Billy Mitchell is the in-house historian at the historic Apollo Theater. He says the Apollo was a second home to Brown, as it was here where he became an international superstar who appealed to all. But Brown's NYC legacy stretches even further.
Powered by WorldNow

WTXF-TV
330 Market Street
Philadelphia, PA 19106-2796

Phone: (215) 925-2929
Fax: (215) 982-5494

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