Long Islanders are facing rising costs of living, especially for housing. Forty-nine percent of Long Island homeowners and 56% of Long Island renters are spending more than 30% of their income on housing, according to new research released this week by Regional Plan Association, Citi Community Development and the Long Island Community Foundation.
The research, developed in consultation with Long Island housing experts, includes data-driven profiles of communities on Long Island, an assessment of housing expenditure potential by income level and a case study demonstrating the benefits of well-designed multifamily housing.
The housing research will be hosted by the newly launched Institute for Attainable Homes at St. Joseph’s College and is intended to provide a factual basis for discussion and decisions on current and future housing needs.
Long Island has historically produced fewer rental units than other suburban areas in the New York metropolitan region. The profiles released this week provide detailed data on housing stock, demographics and average rental and ownership costs for over 100 villages, towns and cities across the island.
“High housing costs on Long Island trap too many residents into economically precarious situations, and deter others, especially young adults, from moving to the area,” said Christopher Jones, RPA’s vice president for research. “We hope that these housing profiles will aid local leaders and residents who are evaluating how and where to expand their housing supply to adapt to conditions in their communities.”
To learn more and view the research, visit http://www.sjcny.edu/long-island/communitysolutions/attainablehomes