This is the latest edition of the annual publication, Housing NYC: Rents, Markets and Trends. With recent information on economic trends; owner revenues and costs; multi-family mortgages; housing supply changes; and tenant income and affordability, Housing NYC is an extensive compilation of research on the New York City rental market today.
Housing NYC: Rents, Markets and Trends 2011 features all six NYC Rent Guidelines Board reports produced this year: Income and Expense Study; Price Index of Operating Costs; Income and Affordability Study; Housing Supply Report; Mortgage Survey Report; and Changes to the Rent Stabilized Housing Stock in NYC in 2010. In addition, the book contains 2011-2012 apartment, loft and hotel guidelines adopted by the Board; data from the 2008 NYC Housing and Vacancy Survey and a glossary of rent regulation terms.
Some of the findings in this year’s publication include:
• The Price Index of Operating Costs for Rent Stabilized Apartment Buildings (PIOC) increased 6.1% this year.
• Net operating income for rent stabilized building owners increased 5.8% this year.
• New York City’s economy grew by 1.6% in 2010, compared to a 2.8% decrease during 2009.
• The number of rent stabilized apartments declined by at least 4,560 units in 2010, 55% fewer than in 2009.
• In 2010, 541 buildings containing rent stabilized units were sold citywide, up 3.8% from the prior year.
• Permits for 6,727 new dwelling units were issued in New York City in 2010, the second least since 1995 but an 11.1% increase over the prior year.
Soft Cover.