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Report: Nearly Half of Working-Age New Yorkers Below a 'True Cost' Threshold; Bronx Especially Hard Hit
Summary
A Bronxnet report summarizing the Fund for the City of New York—ound about 46% of working-age New York City households fall below a calculated "true cost of living," with the Bronx and South Bronx reporting the highest shares; advocates urge the mayor to adopt the measure for targeted policy action.
Patrice McQueen of Bronxnet reported that the Fund for the City of New York—ound a large share of New Yorkers earn less than what the group calls a "true cost of living." "The New York City living crisis is a nightmare," McQueen said, arguing the official federal poverty metric understates local need.
According to the report McQueen cited, the federal poverty level was described as "$33,000 per year for a family of four" in the segment (the report and transcript did not specify the year for that federal figure). The report, the broadcast said, estimates roughly 46% of working-age city households—all below the report's self-sufficiency threshold, a share the segment quantified as about 1.5 million households across the five boroughs.
The Fund for the City of New York—ramework measures the "true cost" using a self-sufficiency approach, McQueen said, calculating net income needed for necessities including food, rent, child care, transportation and medical expenses without counting private or public assistance. The report analyzed over 270 household types and presented outcomes by race and household composition, the segment said.
McQueen highlighted disparities cited by the report: Black and Latin households were described as most likely to fall below the calculated threshold, and single mothers were identified as the most vulnerable group, with the segment citing figures "as high as 86%." The broadcast also said the average New York household needs about $120,000, "and more in most areas," to meet basic needs.
The Bronx was singled out in the segment as both a destination for households priced out elsewhere and still home to high shares of households unable to cover the "true cost." McQueen said advocates are urging borough-wide strategies in addition to citywide policies; the South Bronx was described in the report as having about 80% of homes below the report's threshold.
McQueen said advocates are calling on the New York City mayor to adopt the "true cost" measurement to better identify gaps in food affordability, transportation and accessibility and to guide policy responses. The broadcast did not specify any formal commitments from city agencies or a timeline for adoption.
In the Bronx, McQueen closed, "I'm Patrice McQueen with Bronxnet."
