NYC-area renters pay less than homeowners

It’s still cheaper to rent than it is to buy in the New York City metro region, according to data released today by the U.S. Census Bureau. Homeowners in the Greater New York City region — which they count as including New York City and Nassau, Suffolk and Orange counties — paid a median of $1,517 in monthly housing costs in 2009, compared to renters, who paid $1,019 a month. The data, which comes from the American Housing Survey, also showed that 35 percent of homeowners in the area don’t have a mortgage, while 66 percent of survey respondents reported being very satisfied with their living situation. TRD

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