Rent Increases

The New York Housing Authority wants to raise rents for “better-off” tenants–defined by an income that begins at $19,800–to close a gap in the its budget. This sweeping change would be the biggest since 1989.
“Households making less than 60 percent of the area’s median income, or an average of $29,119, would see their rents rise by 10 percent to $557 from $505. Those making between 60 and 80 percent of the median, or an average of $41,137, would see theirs rise to $624 from $515.” (The New York Times)

– Riva Froymovich