Report finds nearly two-thirds of New Yorkers can't afford cost of living
Briefly

Report finds nearly two-thirds of New Yorkers can't afford cost of living
""The true cost of living measure confirms what New Yorkers have long known to be true: Many people cannot afford the city that they love.""
""Together, these reports establish a framework for how our city will both measure affordability and plan for the future.""
New data reveals that 62% of New Yorkers cannot cover basic living expenses despite full-time employment. A typical family requires an additional $40,000 annually to meet these costs. Mayor Mamdani highlighted the connection between the affordability crisis and racial inequality, presenting the True Cost of Living Measure and the Racial Equity Plan. The reports aim to establish a framework for measuring affordability and planning for the future. A 30-day public feedback period has been initiated for residents to share their thoughts and suggestions.
#affordability #cost-of-living #racial-equity #public-feedback
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