Site Map
Sign up for
Email Alerts

Translate This Page

 

TABLE 4 - Alternative Estimates of the Effect of Vacancy Decontrol on the Monthly Rents Paid by New Occupants of Rent Regulated Apartments over the Next Two Years (Means)

Absolute Increase in Mean Percentage Increase in Mean
(1) (2) (3) (1) (2) (3)
Entire City $47 $8 $62 6.1% 0.9% 7.0%
Bronx $30 $5 $37 4.9% 0.7% 5.4%
Brooklyn $0 $0 $29 0.0% 0.0% 3.9%
Manhattan $123 $62 $111 12.4% 5.6% 10.0%
Queens $21 $0 $32 3.0% 0.0% 4.0%
Staten Island $0 $0 $42 0.0% 0.0% 5.7%

NOTE. _ (1) Preliminary estimates based on market and actual rents at the time of the 1996 Housing and Vacancy Survey. (2) Revised estimates accounting for allowed increases in actual rents when apartments are vacated under the ordinance in existence in April 1997 and increases in market rents due to the loss of the tenure discount and inflation. (3) Refined estimates to insure that the predicted market rent of each apartment is at least as great as its actual rent. If the predicted increase in the mean rent is negative in (1) or (2), zero is reported because the actual rent of an apartment can never be greater than its market rent.


NYC.gov Always Open Go to: NYC-311 Home | Contact Us | Directory | Privacy Policy