For Many Long Island Workers, Rent Is 'Out Of Reach': Report

LONG ISLAND, NY — Everybody knows Long Island is an expensive place to live, and a new report shows just how out-of-reach housing is for many people. The National Low Income Housing Coalition's annual "Out Of Reach" report found that Long Islanders would have to work at least three jobs at minimum wage to afford renting a two-bedroom home.

The report ranks zip codes by the hourly wage a person would need to earn to afford a modest two-bedroom unit without spending more than 30 percent of their income on housing. The minimum wage in New York is $11.80 and the statewide average renter wage is $25.68. The average two-bedroom housing wage is $32.53.

Nassau and Suffolk counties ranked as the most expensive areas in the state, with an average housing wage is $38.31. Westchester ranked as the second-priciest area, with an average housing wage of $37.98. The minimum wage in Westchester is higher than the state at $13.

In New York, the fair market rent for a two-bedroom apartment is $1,691. To afford this level of rent and utilities — without paying more than 30 percent of income on housing — a household must earn $5,638 monthly or $67,653 a year.

On Long Island, it's even more than that. The fair market rent for a two-bedroom apartment in both Suffolk and Nassau counties is $1,992 monthly, meaning the household must earn $79,680 a year.

There were about 183,300 rentals on Long Island between 2014 and 2018, accounting for 20 percent of the total number of households in the area. The mean estimated hourly renter wage was $15.07.

Long Island Rental Affordability: By The Numbers

Number of Households

Nassau-Suffolk

• Total: 933,498
• Renters: 183,300
• Percent renters: 20 percent

New York (state)

• Total: 7.3 million
• Renters: 3.4 million
• Percent renters: 46 percent

Hourly Wage Needed To Afford Rental

Nassau-Suffolk

• Studio: $24.96
• One-bedroom: $31.23
• Two-bedroom: $38.31
• Three-bedroom: $49.29
• Four-bedroom: $54.96

New York (state)

• Studio: $26.51
• One-bedroom: $28.02
• Two-bedroom: $32.53
• Three-bedroom: $41.27
• Four-bedroom: $44.66

Fair Market Rent

Nassau-Suffolk

• Studio: $1,298
• One-bedroom: $1,624
• Two-bedroom: $1,992
• Three-bedroom: $2,563
• Four-bedroom: $2,858

New York

• Studio: $1,378
• One-bedroom: $1,457
• Two-bedroom: $1,691
• Three-bedroom: $2,146
• Four-bedroom: $2,322

Annual Income Needed To Afford Rental

Nassau-Suffolk

• Studio: $51,920
• One-bedroom: $64,960
• Two-bedroom: $79,680
• Three-bedroom: $102,520
• Four-bedroom: $114,320

New York

• Studio: $55,133
• One-bedroom: $58,283
• Two-bedroom: $67,653
• Three-bedroom: $85,846
• Four-bedroom: $92,888

Renter Wage

Nassau-Suffolk

• Estimated mean renter wage: $15.07
• Affordable rent at mean renter wage: $783

New York

• Estimated mean renter wage: $25.68
• Affordable rent at mean renter wage: $1,335