Yesterday, The Torch looked at what your rent pays for.
Today: How long do New York renters keep their apartments?
The conventional wisdom is that once a person snags a rent-regulated apartment, he or she keeps it for decades. As owners have built more and more rental units over the past two decades, this story has become less and less true.
According to numbers the city has extracted from the 2008 Housing and Vacancy Survey, households where the residents had lived there for less than one decade (as of 2008) included:
- 58.1 percent of all New Yorkers
- 65.5 percent of all renters
- 60.5 percent of renters in rent-stabilized apartments (the more than one million apartments where the city controls rent increases every year under state law)
- 83.5 percent of renters in non-regulated apartments
- 43.7 percent of public-housing renters
- 17.9 percent of rent-controlled renters (under the law that preceded rent stabilization; there are fewer and fewer rent-controlled tenants, anyway — only 39,901 households left, out of more than 2 million total rental units)
- 23.3 percent of all New Yorkers
- 18 percent of renters
- 20.2 percent of stabilized renters
- 5.9 percent of non-regulated renters
- 36.6 percent of public-housing renters
- 75.7 percent of rent-controlled renters.