New York City’s Vacancy Rate Reaches Historic Low of 1.4 Percent, Demanding Urgent Action & New Affordable Housing
“As the city grapples with a decades-long housing crisis, the latest NYCHVS, conducted in the field from January through mid-June 2023, reveals a stark reality for New Yorkers. While the city has broken records in financing new affordable housing and connecting New Yorkers with homes over the past two years, without new tools and land-use changes, New York City’s supply of available housing simply cannot keep up with the demand to live here.”