The Robin Hood Foundation and the Columbia University Center on Poverty and Social Policy released the annual report “Poverty and Vulnerability in New York City” on the 16th. In 2024, the number of impoverished people in New York City reached the highest level in over a decade, with the overall poverty rate rising to about 26%, approximately twice the national average.
The report, based on long-term survey data from the Poverty Tracker program, tracks the income, employment, housing burden, and living conditions of thousands of households in New York City to present a more comprehensive picture of the changing trends in urban poverty. The study shows that currently, there are over 2 million residents living in poverty in New York City, including approximately 1.6 million adults and 400,000 children.
Data reveals that child poverty is particularly severe, with the child poverty rate also rising to about one-fourth, marking one of the highest levels observed in recent years. The report points out that in just the past year, approximately 100,000 New York residents have fallen into poverty due to rising living costs.
Research institutions state that despite New York City’s ongoing economic recovery and relatively stable job market performance, essential living expenses have significantly increased, including housing rents, food prices, energy costs, and the cost of daily necessities, all of which have put greater pressure on low-income families. The report indicates that in a high-cost city like New York, a family of four living in rented accommodation needs an annual income of close to $50,000 to sustain basic living.
Richard Buery, the CEO of the Robin Hood Foundation, stated in a press release that inflation affects all residents, but it disproportionately impacts low-income groups, making it harder for many families to balance their finances.
Furthermore, the report highlights that if individuals slightly above the official poverty line but still facing economic hardship are included, about half of New York City residents are in poverty or near poverty, demonstrating that economic pressure is quite widespread in the city.
Researchers also mentioned that policies introduced during the pandemic, such as cash assistance, child tax credits, and rental assistance, have effectively reduced the poverty rate. However, with the conclusion of these measures, there is a trend of poverty issues resurfacing. The report calls on policymakers to continue monitoring the living burdens of low-income groups and to take measures to alleviate their life pressures.
This report is one of the annual studies released in collaboration between the Robin Hood Foundation and Columbia University, aimed at providing data support to the government and various sectors of society to formulate more effective poverty alleviation policies.