![]() Vouchers reduce poverty and boost economic activity. The Housing Access Voucher Program - state rental assistance for New Yorkers at risk of or experiencing homelessness - must be a central part of our housing plan. ![]() This year’s housing package must include protections that keep the most vulnerable families stably housed. These workers make up half of the city’s 4 million-person workforce.īut we cannot build our way out of today’s crisis, even with the most ambitious supply-side policies. Last summer, 90% of rental inventory in New York City was out of reach for the median-wage worker across nine occupational groups including health care, food preparation and transportation services, unless they spent more than half their income on rent. These high rates of rent burden are a supply problem: New York has a deficit of 650,000 apartments that households making $50,000 or less can afford. According to the Fiscal Policy Institute, New Yorkers moving to any of the top 20 out-of-state destination counties around the country saw annual rent savings averaging $5,600 per year. Among the lowest income New Yorkers, three-quarters pay more than 50% of their limited monthly incomes on rent. ![]() Across the state, more than half of all renters are spending upwards of 30% of their income on rent and utilities. ![]() Renters make up the majority of households in New York. (Hans Pennink/AP)įirst, New York can and must pass a comprehensive housing package this session that ensures all communities create housing.
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