Study Finds Quarter of NYC Apartments Rented at Preferential Rate

The Independent Budget Office (IBO) recently released a study that found that nearly a quarter of New York City apartments were rented at a preferential rent or at a rate lower than the maximum allowed under law in 2013. Specifically, using apartment registration data from the DHCR, the IBO found that of the 765,354 state-registered units subject to the traditional rent-regulation rules in 2013 (the most recent data available), 23 percent—more than 175,000 apartments—were rented at a preferential rate.

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