News

DiNapoli: Housing cost pinch worsening

DiNapoli: Housing cost pinch worsening

Photo: WHCU

State Comptroller Thomas DiNapoli says housing costs are becoming unaffordable for millions of New Yorkers amid declining incomes and increasing costs for rent and home ownership.

DiNapoli says Monday that analysis of census data shows median statewide monthly housing costs increased by 18.6 percent for renters and 9.9 percent for homeowners from 2000 to 2012.

During the same time, homeowners’ median household income decreased 1.6 percent and renters’ median household income dropped 7.1 percent.

Affordable housing is defined by the federal government as being below 30 percent of household income.

DiNapoli says more than 3 million households statewide paid at least 30 percent of their 2012 income for a place to live.

Although incomes and housing costs are generally higher in the New York City area, DiNapoli says housing affordability is a statewide issue.

Copyright 2014 The Associated Press. All rights reserved.

Recent Headlines

in Local

Arrest made in Elmira Savings Bank robbery

Ian Miles

Ian Miles, 28, of Cortland, was arrested in Ithaca Friday.

in Local

Groton schools respond to Sept. hazing incident

Local_News41-620x400

Groton Schools Superintendent Jim Abrams says the district is making a serious effort to improve community outreach and student behavior following September’s hazing incident.

in Sports

This week’s top sports shots

AP491836413688

A look at some of the biggest hits and best scores this week in sports.

in National

Virgin Galactic spaceship crashes during test flight

virgin

A passenger spaceship being developed by Richard Branson’s Virgin Galactic has crashed.

in Sports

This weekend’s sports schedule

mississippi

A complete look at this weekend's sports schedule.