For housing, New Yorkers pay more

By Megan Carpenter |

Published 03/10 2014 07:06PM

Updated 03/10 2014 07:35PM

PLATTSBURGH, Ny,- A new housing report released by New York State Comptroller Thomas DiNapoli says housing costs have gone up from the year 200 to 2012.

"Regardless of where they live, more New Yorkers are feeling pinched by the rising housing costs," says DiNapoli.

The report states homeownerspaid at least 30 percent of their 2012 household income for a place to live.  

In order for housing to be considered affordable, the federal government says it should cost below 30 percent of household income.

"When half of your income goes to pay for a place to live, you are going to be stretched thin," says DiNapoli.

Monday's report also indicates the number of people with rent above the affordability level went up from 40.5 percent in 2000 to 50.6 percent in 2012.  While rent is rising, income levels are not.

"Income seems to be stagnant over the last five years," says Stephen Tahy of Tahy Real Estate Group.  "Anytime you see an increase in housing costs, you'll feel that immediately if you don't have a similar increase in your income."

DiNapoli's report says between 2000 and 2012, household income for New York homeowners dropped 1.6 percent.  Renters' income dropped 7.1 percent.

Tahy says rising housing costs are due in part to property taxes, which rose 12.3 percent statewide.

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