Study analyzes the cost of operating and maintaining rental housing, examining the conditions that existed in the NYC rent stabilized housing market in 2020 and also the extent by which these conditions changed from 2019.
Housing NYC: Rents, Markets and Trends 2021 includes all six NYC Rent Guidelines Board reports released this year. In addition, the book contains the 2021-2022 apartment, loft and hotel guidelines adopted by the Board.
Housing is considered affordable if it costs about one-third or less of what the people living there earn, also known as Area Median Income (AMI). The 2021 AMI for the New York City region is $107,400 for a three-person family (100% AMI).
Apartment/ Loft Order #53 establishes the lease guidelines for rent stabilized apartments and lofts effective between October 1, 2021 and September 30, 2022.
Hotel Order #51 establishes the lease guidelines for rent stabilized Class A hotels, Class B hotels, lodging houses, rooming houses and SROs effective between October 1, 2021 and September 30, 2022.
The report examines changes in the overall supply of housing in NYC during the prior year, looking at factors that include the number of permits issued and the number of completed housing units.
The study examines additions and subtractions of dwelling units to and from the rent stabilization system in that year and compares it to changes from prior years.