NYC Rent Keeps Going Up: Report

Even during the downturn, the city's median rent increased to $1,100 a month in 2011

Wednesday, Jun 20, 2012  |  Updated 9:21 AM EDT
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New York City tenants are handing over a larger portion of their pay to landlords than they did before the recession.      

That's according to a report by the Community Service Society. The group advocates for low-income New Yorkers.      

Even during the downturn, the city's median rent increased to $1,100 a month in 2011. It was $950 in 2008.      

The Wall Street Journal says the city's Rent Guidelines Board votes Thursday on increases of anywhere from 1.75 percent to 6.75 percent. It will affect about a million rent-stabilized apartments.      

Joseph Strasburg is president of the Rent Stabilization Association, which advocates for landlords. He says owners need enough money to keep buildings in good condition.     

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