Adolfo Carrion

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Mar 6, 2024, 5:40 PM

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Updated

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The New York City Council reviewed the results from the 2023 Housing and Vacancy Survey on Wednesday, taking a closer look at the housing crisis impacting the five boroughs.

The survey revealed that the number of vacancies in NYC dropped to 'historic levels' in 2023, with less than 1% of apartments that cost less than $2,400 a month being vacant and available to rent.

There are currently 3.7 million housing units in New York City - the most since the survey began back in 1965.

Statistics show that one-third of renters in the city spend over 50% of their income on housing.

Over 10,000 New Yorkers were surveyed based on the supply and condition of available housing and price of rent.