A new report found New York City’s rent-stabilized housing keeps 140,000 people out of poverty, even as many tenants remain burdened by high housing costs.
The report from Columbia University’s Center on Poverty and Social Policy and Robin Hood, a poverty-fighting nonprofit, showed 40% of New Yorkers live in rent-stabilized housing. Most are low-income, older New Yorkers.
Chloe Sarnoff, policy research and initiatives director for Robin Hood, said rent stabilization helps protect tenants from steep annual rent increases but does not necessarily make housing affordable…