Housing affordability is simultaneously an abstract idea, a very tangible concern for many, and a technical bureaucratic term which defines much of housing policy in the United States. Affordability is defined as housing costs not exceeding 30% of a household’s gross income.

In New York City, many residents are rent-burdened—meaning they spend more than this 30% threshold on housing— leaving them with less remaining income for everything else. Over half of the city’s renters are currently rent-burdened. For many low and extremely low-income families, the percentage of income spent on rent can exceed 50%, making paying for other essential goods incredibly challenging.

The high cost of housing affects those earning below the city’s median income of $70,600 disproportionately. In neighborhoods like the Bronx or parts of Brooklyn, median incomes are far below this citywide average, meaning that even housing deemed “affordable” by general standards is still out of reach for a large portion of the population.

The result is severe housing insecurity where many families cannot save for emergencies, invest in education, or afford healthcare. Their position is precarious. This perpetuates poverty and creates cycles of financial instability that are very difficult to break. Addressing this requires not just more affordable housing units but also a rethinking of how affordability is measured in a city with such stark income inequality.

April, 2023

RESEARCH TEAM

Galia Solomonoff, Director

Eddie Palka, Adjunct Associate Research Scholar, ‘18 M.Arch

Kavyaa Rizal, Graduate Research Assistant, ‘23 MSUP

Jamon Mok, Graduate Research Assistant, ‘23 MArch

Lula Chou, Graduate Research Assistant, '24 MSRED, MArch