NYU’s Furman Center Releases Housing Report

Statistics geeks are in heaven today. NYU’s Furman Center for Real Estate and Urban Policy has released its influential annual report, “The State of New York City’s Housing and Neighborhoods.” It’s a 143 page document, so there’s plenty to digest. Here are a few of the highlights relevant to the neighborhood.

The report studies demographic information in the city’s 59 community districts. We’re zeroing in on Community Board 3, which includes the Lower East Side, most of the East Village and parts of Chinatown:

  • The neighborhood’s population in 2009 was 168,794.
  • Median Household income: $36,408. Only about 16% of households earned more than $108,000/year. 50% of households earned below $38,000. The median household income in the city as a whole was nearly $51,000.
  • 39% of the housing units were subsidized (third highest in the city).
  • Racial diversity index: CD3 was second highest, tied with Hillcrest/Fresh Meadows, Queens.
  • The poverty rate for residents 65 years and older was second highest.
  • The neighborhood’s population density was second highest, after the Upper East Side.
  • The LES/Chinatown had the lowest mortgage foreclosure rate in the city.
  • CD3 had the highest “income diversity ratio” in New York City. This does not necessarily mean there’s a uniform distribution of income levels. It only suggests the high/low extremes are greatest here.

If you would like to read the full report, it’s available here.