Rents Up More Than 40 Percent In Neighborhood Since 2002

According to the Community Service Society, rents in our neighborhood have gone up 41-52 percent since 2002, when adjusted for inflation. That’s even more than the average of 32 percent for the entire city.

To find these numbers, the Community Service Society analyzed the just-released U.S. Census Bureau data from the 2014 version of its New York City Housing and Vacancy Survey, a survey of 18,000 New Yorkers conducted every three years under contract with the New York City Department of Housing Preservation and Development.

The sharpest increases were in northern Manhattan — Central Harlem led the way with a 90 percent increase — but Brooklyn isn’t far behind. Bedford-Stuyvesant came in second at 63 percent and Park Slope and South Slope aren’t far behind that.

The Community Service Society says that the loss of rent-regulated and subsidized housing and rising rents overall have dramatically shrunk the city’s supply of housing affordable to low-income households. Between 2002 and 2014, the city lost nearly 440,000 units of housing affordable to households with incomes below twice the federal poverty threshold.

This report appears just a week before rent stabilization laws expire on June 15.