New Yorkers' incomes remained mostly static over the course of the recession, but rents resumed their upward climb after only a brief dip. Which means the percent of NYC households spending more than half their income on rent rose from 26 percent in 2008 to 29 percent last year, according to a new analysis from advocacy group Community Service Society. The Journal has a chart and some more stats. Such as? The median rent rose from $950/month in 2008 to to $1,100/month last year?and one rent-stabilized West Village renter saw her rent increase from $1,400/month to $2,400/month when she got her lease renewal notice. You do hate to see that. But there's no better way to draw a crowd to tomorrow's Rent Guidelines Board vote on stabilized rent increases.
· Rents Climb in Downturn, Demand Up [WSJ]
· Rental Market Reports coverage [Curbed]