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Astoria residents find it tough to cover the rent, lack funds for a rainy day, according to report

The Montenegro of Astoria

The Montenegro of Astoria on 21st Street

Nov. 30, 2016 By Hannah Wulkan

The majority of Astoria residents are finding it tough to pay the rent each month and lack the funds to cover their living expenses for three months should an emergency strike, according to a new report.

The Association for Neighborhood and Housing Development recently released a detailed study of the economic well being that residents in different parts of city face. The study is broken down by neighborhoods.

The study concluded that 49 percent of Astoria residents are rent-burdened, or pay more than 30 percent of their income towards rent.

The study also revealed that 58 percent of residents have inadequate emergency savings, meaning they could not cover three months of rent and living expenses out of their savings.

“Without sufficient emergency savings that cover at least three months’ worth of household expenses, families are at risk of eviction, foreclosure, and damaged credit,” the study points out.

The report compiled data from several censuses and city databases to analyze 20 different economic factors—from health insurance coverage to high school graduation rate–relevant to residents of each neighborhood. It then ranked the economic well being of residents based on each factor and put together a chart (see chart below).

“This chart helps residents, community groups, and officials learn about what’s happening in their neighborhoods, build power with other neighborhoods across the city to mobilize for change and get resources, and make informed decisions about equitable development in their local economy,” according to the authors behind the study.

According to the report, 17 percent of Astoria residents are living in poverty and there is a 6.1 percent unemployment rate with 14 percent of residents receiving food stamps or SNAP benefits in the neighborhood. It also shows that about 15 percent of residents do not have health insurance.

In comparison to nearby neighborhoods, Astoria is doing moderately well.

Sixty percent of Jackson Heights residents and 57 percent of Sunnyside/Woodside residents are rent burdened, compared to Astoria’s 49 percent.

About 83 percent of Astoria residents have a high school diploma or better, compared to 77 percent in Sunnyside and Woodside and 68 percent in Jackson Heights.

The chart shows a calculated score for economic opportunity in each neighborhood, with the best score at 24 and the worst at 76.

Astoria scored 42, putting it solidly in the middle two quartiles, which the chart labels as “moderate risk,” and on-par with nearby areas. The Bronx and Brooklyn both had quite a few areas that were scored as high-risk, or in the lowest quartile, while Manhattan had the most areas scored as low-risk, or in the top quartile.

Economic Well Being by Queens Post on Scribd

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milli

If they stop building apartments for tge upper class with these rediculous rents , that middle class nor low income people can’t afford then maybe oeople could afford rent , homeless have no choice they have nothing , and with those rents asked for they will continue to be homeless. These buildings are suppose to help homelessness but its never going b to happen..59th st has all these buildings being build it has always been a law that any buildings veing build 20% of the apartments are for low income and middle class it looks like this is no longer happening , and who is allowing it I havent seen anything saying otherwise …the rents are being raised purposely so that we cant afford , and have to move…but I was born, raise here ..something or someone …is up to this and it needs looking into

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