News

NY Times: Ithaca one of 20 cities with rent out of reach for Middle Class

NY Times: Ithaca one of 20 cities with rent out of reach for Middle Class

Photo: WHCU

The City of Ithaca is included in a New York Times report out Tuesday as one of many cities in which the cost of rent is rising out of the reach of the middle class.

The report has Ithaca as one of 20 cities where the average middle-class family is paying over 30-percent of income for rent and utilities.

Jean McPheeters with the Tompkins County Chamber of Commerce says the reason for high rent is simple, the City needs more housing.

She says most cities see a vacancy rate of 2 to 4 percent, while Ithaca sits at just a half-percent.

She says leaders have taken the initiative to add more housing to the area, but many of the projects have been tailored to high-end apartments or low income housing.

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