Intense scrutiny was directed at New York City’s rent regulation laws during a recent state budget hearing, as questions were raised about the eligibility of affluent renters for the city’s “affordable housing” program.
During a joint hearing of the state Senate and Assembly on Wednesday, state Senator Jack Martins (R-Mineola) advocated for a “means test” to determine eligibility for rent-regulated apartments. This discussion was part of the deliberations on Governor Kathy Hochul’s proposed $262.7 billion budget.
The 2023 New York City Housing Vacancy Survey revealed that nearly 30% of residents in rent-stabilized apartments earn more than $100,000 annually. This amounts to about 300,000 individuals out of the 960,000 people benefiting from rent stabilization.
“Housing should be affordable for those who truly need it,” Martins emphasized during the hearing, highlighting the ongoing debate over the fairness and allocation of housing resources.
The 2023 New York City Housing Vacancy Survey found that 30% of Big Apple residents living in rent-stabilized apartments make more than $100,000 a year, or nearly 300,000 of the 960,000 residents.
“Housing needs to be affordable for people who need it,” Martins said.
He said the law approved in 2019 by the Democratic-run legislature allows wealthier tenants to occupy government regulated units, therefore denying needy New Yorkers from placements.
Martins and Assemblyman Michael Fitzpatrick (R-Smithtown) have proposed legislation to bar residents whose income is greater than 125% of the area median income from occupying such housing.
Tenants whose incomes jumped beyond that level during their lease would have to move out when it expired.
But the bill is gathering dust, because Democrats — particularly those who represent more affluent city neighborhoods with thousands of tenants making more than six figures — defend the status quo.
“Where would they go if they earned more?,” said state Homes and Community Renewal Commissioner RuthAnne Visnauskas, when asked about imposing a means test.
State Sen. Liz Krueger, who represents the Upper East Side, dismissed the claim of rich tenants in rent-stabilized housing as overblown.
“No one should leave this meeting under the illusion that wealthy people are taking their housing,” Kruger, who chairs the Senate budget-writing finance committee, said.
She also claimed it was for healthy for neighborhoods to have “mixed income” tenants living in “mixed income housing.”
Former Gov. Andrew Cuomo, in his unsuccessful bid for mayor last year, proposed a means test for rent-stabilized units, after criticizing then-candidate Zohran Mamdani for living in such an apartment as an Assemblyman.
Mayor Mamdani moved out of his rent-stabilized apartment in Astoria, Queens and into Gracie Mansion upon taking office last month.
