61% of NYC tenants age 65 or older are struggling to pay rent, according to new report

New York’s Staten Island — Over the past 20 years, the number of people in New York City who are 65 or older has increased exponentially, raising concerns that the Big Apple might not be adequately prepared to meet the demands of its aging population.

According to a new report released by New York State Comptroller Thomas P. DiNapoli, 61% of tenants were rent-burdened in 2023, meaning they spent more than 30% of their gross income on rent. This is because many senior citizens struggle to pay their rent due to their low income and high healthcare costs.