City rents claiming greater income slices

By 2006, New Yorkers were spending more than 30 percent of their gross incomes on rent, surpassing what’s commonly cited as the maximum threshold households should spend on renting. The median share of income spent on rent by renters in the city rose from 28.6 percent in 2002 to 31.2 percent in 2005, according to a new report from New York University. Decreasing real income and increasing real rents were the main culprits for inching over the 30 percent threshold. more By Tom Acitelli