New York City now has over 3.33 million units of housing stock, the highest number since 1965, and the number of units increased in all five boroughs between 2005 and June 2008, according to preliminary results of the 2008 New York City Housing and Vacancy Survey, released yesterday. New York City's rental vacancy rate was 2.88 percent between February and June 2008, down from 3.09 percent during the same period in 2005. Because the survey includes data only through June, it does not address the impact of the financial crisis on city real estate. The number of rent-stabilized units fell by 17,000 since 2005, the study found. The number of people paying more than 50 percent of their income for rent was 29.4 percent, compared to 28.8 percent in 2005. The survey is conducted every three years and is required by city and state rent-regulation laws.
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