Photo by Emiliano Bar on Unsplash
November 8, 2022
NYC’s area median income increases by 16 percent, ‘wildly out of sync’ with actual income of New Yorkers
A new report highlights how the area median income (AMI) set by the federal government for New York City is "wildly out of sync" with the actual incomes earned by most New Yorkers. The New York Housing Conference (NYHC) last week released a policy brief outlining the discrepancy, citing the new AMI levels set by the U.S. Department of Housing and Urban Development (HUD) for the area. The federal government set the new median family income at $94,500 while the city's actual household median income remains at $60,550.
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