Friday, 27 May 2016

New Study Shows Which NYC Neighborhoods Have Become Unaffordable for Locals

Five neighborhoods in the Bronx ranked the highest

Neighborhoods in the Bronx ranked the highest among areas citywide that are becoming unaffordable for locals, DNAinfo reports, based on a study conducted by the Association for Neighborhood and Housing Development. In fact, the top five neighborhood citywide were in Bronx, and the University Heights/Fordham area was right at the top.

To measure affordability, ANHD looked at income, unemployment and the number of overcrowded households in the neighborhood, among several other factors. University Heights/Fordham saw more than 3,000 families apply for shelter between 2012 and 2015. Furthermore, more than 67 percent of the houses in the neighborhood are considered rent burdened — meaning residents pay more than 30 percent of their income on rent. The neighborhood also had the highest number of housing litigations, which is seen as a sign of having problems with landlords.

Fordham was followed by Highbridge/South Concourse, Kingsbridge Heights/Bedford, Belmont/East Tremont and Morrisania/Crotona.

Neighborhoods in Upper Manhattan like Morningside Heights and East Harlem saw the highest increase in price per square foot in residential sales, but didn't see an equivalent increase in income.


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