The Rent Guidelines Board has started examining its annual study on income and affordability, one of several studies it will take into consideration when it decides later this year whether to hike rents on rent-stabilized apartments. The report found that the average household income of tenants in rent-stabilized apartments was down 8.6 percent between 2001 and 2004, and that around 23 percent of all renter households had incomes below the poverty line. At the same time, the city’s healthy economy has caused a decrease in unemployment and an average increase in wages. more [NYT]
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Annual rent stats released
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