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1 Selected Findings of the 2005 New York City Housing and Vacancy Survey Prepared by Dr. Moon Whey Lee Assistant Commissioner for Housing Policy Analysis and Statistical Research New York City Department

This section addresses some main features and limitations of the results presented in the following sections that may be used to evaluate the strength of the evidence presented by the various sources. In addition to the above-mentioned issues, the evidence presented in the study is susceptible to the effects of certain sampling and non-sampling errors and may not necessarily generalize to New York City in a uniform fashion. The overall quality of the data on housing markets and rents was poor. The survey was conducted using telephone interviews, and telephone interviews are prone to sampling variation. This may result in estimates that overstate absolute market value increases or understate absolute market value decreases. For the period after 1987 when the census tracts in question were sampled, changes in rates and rents were often not reported to the extent that they would have been reported in previous years. There was no uniformity in reporting on rent changes and therefore no generalizable information about the trend of market value increases. 2. New York City Rental Market In this section the evidence presented focuses on New York City housing markets through the first decade of the 2000s, with a focus on changes in the amount and type of housing that is being built in New York City. Because the housing market is not disaggregated by census tract, and because there were several years in which we were unable to obtain rents from the New York City Rent and Evictions Data System, the analysis is limited to New York City rents for single family rentals. Table 2-9 shows data on total units (one to four bedrooms) and rents for one bedroom units and studio apartments built in New York City in the ten years ending on December 30, 1995, which together with 2006 data provides a sample of housing units for which we have rent information. Figure 2-7 shows the percentage of New York City households with rental housing and annual rents. There was substantial turnover in the New York City rental market during the first decade of the 2000s, with roughly the same share of households that changed their housing status at various times. Figure 2-7 shows that since the late 1970s there was a steady increase in the share of New York City households living in a rental housing unit. This was matched by a decrease in the number of households living in non-rental housing units (2.8 million compared to 2.1 million in 1995) after which a gradual increase over the last ten years (Table 2-11).

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