A new report by the nonprofit Hudson Valley Pattern for Progress finds the cost of housing is out of reach for most Hudson Valley residents. The 2023 “Out of Reach” report analyses how a lack of building over the past 15 years, migration from New York City, and the rise of short-term rentals have crippled the region’s housing stock — squeezing the wallets of local residents as a result. According to the report, the average single worker cannot comfortably afford to rent a one-bedroom apartment in any of the region’s nine counties, and median home prices are more than $100,000 higher than the mortgage a typical family would qualify for.
Pattern CEO Adam Bosch spoke with WAMC’s Hudson Valley Bureau Chief Jesse King about what that means for the future of the Hudson Valley.
