More New Yorkers spending half their income on rent

c6afe97407593cba081a66fb10f750f6

New Yorkers are forced to reach even deeper into their pockets to shell out cash for higher rents, according to a new study.

As the Wall Street Journal reports, 29 percent of households in the city now spend at least half of their income on their rents. That’s up from 26 percent in 2008.

Meanwhile, the cost of rent has also jumped to $1,100 per month from the median cost of $950 in 2008, according to Community Service Society.

NYC’s Rent Guidelines Board will vote tomorrow on whether to increase the cost of rent-stabilized apartments in the city. The price increase could be between 1.75 and 6.75 percent for New York’s one million rent-stabilized units.

“In this downturn, people’s incomes have gone down, but it’s not like their expenses are going down,” Jonathan Bowles, executive director of the Center for an Urban Future, told the WSJ. “In a lot of other downturns, New York often trailed the rest of the country in the recovery. Now New York has as many or more jobs than other places in the country, so people may be hanging on.”



News
Entertainment
Sports
Lifestyle
International

Hurricane Odile batters Mexico's Baja resorts, sparks looting

Hurricane Odile injured dozens of people, forced the evacuation of thousands and smashed shops open to looters in the popular tourist area of Baja, Mexico.

National

Apple iPhone 6 pre-orders hit record 4 million…

By Lehar Maan(Reuters) - Apple Inc said many customers will need to wait until next month for their new iPhones after a record 4 million…

National

LAPD investigates complaint from detained 'Django' actress

The LAPD is investigating after "Django Unchained" actress Daniele Watts accused police of violating her rights when they detained her.

Local

Number of New York City smokers increase, topping…

For the first time since 2007, there are  more than one million smokers in New York City, according to the New York City Department of…

Movies

Newsflash: Corey Stoll is still not a man

In director Shaun Levy's "This Is Where I Leave You," Corey Stoll stars as the oldest of four adult children (the others are played by…

Movies

If you don't like Simon Pegg's new film,…

Simon Pegg goes all out in "Hector and the Search for Happiness" as the titular psychiatrist stymied by modern life who embarks on a globetrotting…

Arts

Art in Chelsea: Don't miss these 3 galleries

We selected three sure bets for seeing cool art in the galleries of Chelsea.

Music

Robin Thicke blurs lines further with new 'Blurred…

"The reality is," said Robin Thicke about "Blurred Lines" in a court deposition, "Pharrell had the beat and he wrote almost every single part of the song."

NFL

Tom Coughlin says Giants 'beat themselves' against Cardinals

Head coach Tom Coughlin, who had a day to cool off and reflect, still sounded like he had a gnawing feeling in his gut.

NFL

Marty Mornhinweg accepts blame for Jets timeout fiasco

Jets fans looking for a scapegoat for Sunday’s timeout fiasco found a willing party on Monday: Marty Mornhinweg.

NFL

3 things we learned in Jets loss to…

The wheels came off for the Jets, who gave up 21 unanswered points after a brilliant first 20 minutes in a 31-24 loss at the Packers.

NFL

Victor Cruz catches case of the drops in…

The Giants dropped a tough, 25-14, decision to the undermanned Cardinals Sunday in their home opener. And drop was the operative word of the day,…

Travel

World's most hipster cities: Top 5

Travel blogger Adam Groffman tells us his picks for the Top 5 most hipster cities in the world.

Education

The top 5 regrets recent high school grads…

College application season can seem like a blur for many students - as test prep, campus visits and filling out a seemingly endless stream of…

Parenting

Tech execs tend to limit their kids' screen…

You probably got your iPad before Bill Gates's kids did.

Wellbeing

Wellbeing: Daybreaker returns, Ray Rice jersey trade, Sweet…

  Now that Ray Rice is no longer with the Baltimore Ravens — or any other NFL team — after video footage surfaced showing him…