New York’s Housing Shortage Pushes Up Rents and Homelessness

📅 Published: August 15, 2025

📰 Source: newsday_com

Curated by AllZimNews.com

This shortage is acute in much of New York state, where highhousing costs have pushed many families to leavethe New York City metro area in search of lower-cost housing.

In this analysis, The Pew Charitable Trusts finds that rent growth in New York state has been lowest in jurisdictions that have enabled more housing to be built.

It also finds that New York City has much higher homelessness rates than other major cities where rents are lower.

Housing construction in New York City and its suburbs has lagged far behind that of other major cities and their suburbs, resulting in low housing availability and avacancy rate of just 3%.

New York City’s housing stock has only increased 4% since 2010, not nearly enough to keep up with its22% increase in jobs.

And from 2017 to 2021, New York City permitted 13 homes for every 1,000 residents in 2017, while Boston added 28, Washington, D.

C. , added 43, and Seattle added 67.

New York City’s suburbs also contributed to the lack of available housing in the region.

For example, Nassau County and Suffolk County on Long Islandpermitted just 5 and 3 homes per 1,000 residents, respectively, during this period.

In contrast, the Boston suburbs of Middlesex County and Norfolk County added 14 and 15 homes, respectively, and the Washington, D.

C. , suburbs of Arlington County and Loudoun County added 45 and 40 homes per 1,000 residents, respectively.

New York’s lack of building doesn’t represent weak demand for housing, because its low vacancy rates and high rents indicate strong demand for homes.