Aerial view down First Avenue in Manhattan showing trees, cars, and pedestrians surrounded by a variety of tall buildings

Housing production hasn’t kept up

More people want to live in Manhattan than there are available homes

From 2021-2024, Manhattan produced less housing than every borough other than Staten Island

In 2024, Manhattan produced only 14% of the newly built homes in NYC

Housing production varies by neighborhood

Some neighborhoods have produced meaningful amounts of housing over the last decade, while others have produced little to none. There are even some that have fewer homes than they did ten years ago, due to the merging of multiple apartments into single units.

Source: NYC Department of City Planning

Manhattan is becoming increasingly unaffordable

47% of Manhattanites are rent-burdened. This means that they spend 30% or more of their income on housing costs.

Median asking rent has increased by 50% since 2010. There is an urgent need for more income-restricted affordable homes.