Civic Report
No. 34 March 2003


Who Really Benefits from New York City’s Rent Regulation System?

Table 4: Subsidies Generated By Rent Stabilization, By Borough, New York City, 1999

Borough

Total Number of Stabilized Units

Median Stabilized Rent

Median Renter Household Income

Median Subsidy

Subsidy as Percent of Rent, Median

1999

1993

Bronx

185,406

$550

$18,904

$58

10%

11%

Brooklyn

268,822

$607

$25,154

$5

1%

5%

Lower and Mid-Manhattan

238,425

$1000

$47,000

$397

37%

19%

Upper Manhattan1

111,215

$600

$22,500

$9

2%

*

Queens

196,691

$690

$30,000

*

*

*

Staten Island

10,341

$650

$30,000

*

*

*

New York City Total

1,010,900

$650

$31,000

$42

6%

7%

 

 

 

 

 

 

 

Notes:
* Effectively zero
1. Includes Lower East Side / Chinatown

Table 5: Median Rents and Income Levels, New York City, 1993–1999

Median Contract Rent

 

1993

1999

% Increase

Unregulated

640

750

17%

Stabilized

525

650

24%

 

 

 

 

Median Household Income

 

1993

1999

% Increase

Unregulated

25000

37000

48%

Stabilized

20160

28000

39%

Table 6: Median Rents By Borough, New York City, 1993–1999

Borough

1993

1999

% Increase

Bronx

 

 

 

 Unregulated

600

700

17%

 Stabilized

450

550

22%

Brooklyn

 

 

 

 Unregulated

600

700

17%

 Stabilized

500

607

21%

Lower- and Mid-Manhattan

 

 

 

 Unregulated

1090

2029

86%

 Stabilized

750

1000

33%

Upper Manhattan1

 

 

 

 Unregulated

716

750

5%

 Stabilized

486

600

23%

Queens

 

 

 

 Unregulated

675

750

11%

 Stabilized

564

690

22%

Staten Island

 

 

 

 Unregulated

575

650

13%

 Stabilized

564

650

15%

 

 

 

 

Note:
1. Includes Lower East Side / Chinatown

Table 7: Deregulation of All Stabilized Units, Median Predicted Rent Changes and Number of Units Affected, By Borough, New York City

 

 

 

 

 

100% Deregulation

Borough

Total Number of Stabilized Units

Median Stabilized Rent

Median Subsidy

Subsidy as Percent of Rent, Median

Median Rent Change from Deregulation

Median Percent Rent Change

Bronx

185,406

$550

$58

10%

$37

7%

Brooklyn

268,822

$607

$5

1%

*

*

Lower and Mid-Manhattan

238,425

$1000

$397

37%

$218

22%

Upper Manhattan1

111,215

$600

$9

2%

*

*

Queens

196,691

$690

*

*

*

*

Staten Island

10,341

$650

*

*

*

*

New York City Total

1,010,900

$650

$42

6%

$8

1%

 

 

 

 

 

 

 

Notes:
* Effectively Zero
1. Includes Lower East Side / Chinatown

[Table 1] [Table 2] [Table 3] [Table 4] [Table 5]
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Table 6] [Table 7] [Table 8] [Table 9] [Table A-1] [Table A-2]
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Table A-3] [Table A-4] [Table A-5] [Table A-6] [Table A-7]
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