How Affordability Affects Teens

New York City is widely known as one of the most expensive cities to shop, work, commute, and most of all, live in. Even those who don’t live remotely close to New York seem to have a basic sense that it’s a pricey place. Of course, everyone in the city knows it. It’s been a major point within the city’s politics and elections in the past and present.

All of this is backed up by statistics, not just reputation. Compared to the national average, New York’s numbers remain higher than elsewhere in the country, although it varies depending on borough and year. The city’s high price point is mainly due to the inflated cost of housing, which is impacted by a limited supply in comparison to the high demand, as well as high building costs.

Housing insecurity is increasingly common with the city, as costs rise faster than incomes can match them. The amount of affordable housing can’t rise to match a growing demand. More income disparity strains household finances, forcing those most in need to make difficult decisions between basic necessities.

A lot of the time, the focus goes to young adults, workers, and grown-ups with regards to the affordability crisis. It’s also important to keep in mind how younger New Yorkers, including teens and below, are affected as well, whether it’s socially, academically, or emotionally. Housing instability can show up in ways that are easy to miss, as unstable home environments can show up as a dent in school performance or a greater mental toil.

The reality is that teens should care about this because it’s a political issue that shapes not just our present, but the future city we’ll grow up to live in. Zoning decisions, rent stabilization laws, public housing investments, and shelter policies directly shape the city. Understanding how the affordability and housing crisis affects us as a younger generation is the first step toward changing it moving forwards.