The U.S. Supreme Court is soon to announce whether it will hear the case of Upper West Side landlord James Harmon, who argues that the city's rent-regulation laws violate his constitutional rights. While we wait for the court's answer, NYU's Furman Center has put together a pretty interesting look at the city's rent-regulated housing stock. Charts! Numbers! Envy-inducing cheap rents! How cheap? The median stabilized rent in the city is $1,160/month, compared to a market-rate rent of $1,550/month. Within what the report calls "core" Manhattan?below 96th Street?the median market-rate rent is $2,725/month, compared to a median stabilized rent of $1,480/month. A roughly 35.2 percent share of rent-stabilized households below 96th Street moved in more than 20 years ago.
Where the highest numbers of rent-regulated units are located:
How NYC's housing stock has changed over time:
And how many people live in rent-regulated units:
· Official website: Furman Center [furmancenter.org]
· UWS Landlord Takes Rent Regulations to Supreme Court [Curbed]
· Rent Wars coverage [Curbed]