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Housing Cost Burdens On NYer’s Considered One of Nation’s Highest – NY Comptroller Says


New York Comptroller Thomas DiNapoli says New York State is considered one of the nations highest in terms of housing cost burdens. The Comptroller’s Office says about 3 million New York households are currently dealing with housing costs that take up more than 30% of their household income.

DiNapoli also says 1 in 5 households are experiencing a severe cost burden of over 50% of their income going to pay for housing. Details of the report may be found, HERE.

“For too many New Yorkers, finding and keeping an adequate and affordable place to live has become more and more difficult,” DiNapoli said. “Rising costs are stretching household budgets and forcing trade-offs with other essentials, like food and health care.”

New York has been ranked as a state with one of the highest cost burdens for homeowners and renters. The state was ranked 3rd in 2022 for homeownership burdens, and 13th for rents, with the share of renters who are cost burdened (52.4%) much higher than homeowners that are cost burdened at 28%.

Central New York averaged slightly better for cost burdened households when compared to the state average of 28%. CNY cost burdened households were at 25%.

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