Half of NYC Households Can't Afford to Live Here, Report Finds - The New York Times - 0 views
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A full half of the city’s households did not have enough money to comfortably hold down an apartment, access sufficient food and basic health care, and get around, the report said
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Public officials have been particularly alarmed by a significant drop in public school enrollment, which accelerated during the worst of the pandemic and is driven in part by Black families leaving the city over concerns about the cost of living
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The study found that New Yorkers are even worse off than after the nadir of the pandemic. The groups’ 2021 report found that just over a third of city households could not keep up with the cost of living at the time, a figure that has since risen
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Households in all five boroughs needed to be pulling in at least $100,000 to afford housing, food and transportation, and to have a shot at being able to plan for the future
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In southern Manhattan, home to some of the most expensive ZIP codes in the country, families with two adults and two children needed to make at least $150,000 combined
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a considerable majority of households that could not keep up with the cost of living — 80 percent — had at least one working adult, and more than half of New Yorkers who could not make ends meet had a college degree or some college credit, if not a graduate degree.
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The affordability crisis is particularly urgent for nonwhite New Yorkers, the study found. Latino, Black and immigrant New Yorkers were bearing the brunt of the affordability crisis, and residents of the central Bronx had the highest rates of economic instability.
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And more than 85 percent of households where single mothers were taking care of young children were unable to keep up with the cost of living