The vacancy rate is generally low in New York. During Covid, it rose as high as 10% in Manhattan, as many well off people left the city, but at the end of 2019

The vacancy rate is generally low in New York. During Covid, it rose as high as 10% in Manhattan, as many well off people left the city, but at the end of 2019 the vacancy rate in the entire city was just under 2%. The easy way to tell that there isn't enough housing is to think about how many people live in undesirable living situations such as living in an illegal basement or having a roommate in a 1 bedroom apartment. That's how we fit as many people we have into the space that is available.