April 2013 Economic Snapshot: Housing Ownership and Rental Trends

17-Apr-2013

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Do you rent or own in New York City? For our April 2013 Economic Snapshot, NYCEDC looked at the City’s housing ownership and rental trends in the nation’s largest housing market with more than 3 million total units of housing for 8.2 million residents. Some facts we found:

  • New York’s home ownership is on the increase, at a rate of 31.3% in 2011, higher than its rate of 30.2% in 2000 and nearly ten percentage points higher than its rate of 23.4% in 1980.
  • At the borough-level, Brooklyn was home to the largest share of the City’s occupied housing units in 2011 (29.8%), slightly below its share of population (30.8%).
  • In 2011, Staten Island had the highest home ownership rate of any borough at 68.9%, which was also higher than the national rate of 64.6%. The ownership rate in Queens was 43.0%; in Brooklyn it was 28.7%. The Bronx had the lower ownership rate at 19.0%, just below the rate of 21.9% in Manhattan. Every borough, however, has experienced an increase in ownership rate since 1980.

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Listen to our podcast and read the full snapshot for more insights. For previous Economic Snapshots, visit our economic data archive on NYCEDC’s website.

http://nycedc.tumblr.com/post/48125633532/april-2013-economic-snapshot-housing-ownership

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