New York City

=== Real estate ===
[[File:New_York_-_panoramio_(117).jpg|thumb|[[Apple Fifth Avenue|Apple Store]] at [[Fifth Avenue]], one of the most expensive shopping streets in the world]]
New York City real estate is a safe haven for global investors.<ref name=NYCSafeHavenGlobalInvestors/> The total value of all New York City property was assessed at US$1.479&nbsp;trillion for the 2017 [[fiscal year]], an increase of 6.1% from the previous year; of the total market value for 2024, single family homes accounted for $765&nbsp;billion (51.7%), [[Housing cooperative|co-ops]], [[condominium]]s and apartment buildings totaled $351&nbsp;billion (23.7%) and commercial properties were valued at $317&nbsp;billion (21.4%).<ref>[https://www.nyc.gov/site/finance/about/press/press-release-fy24-tentative-assessment-roll.page ''Department Of Finance Publishes Fiscal Year 2024 Tentative Property Tax Assessment Roll''], [[New York City Department of Finance]], press release dated January 17, 2023. Accessed July 28, 2023. "The tentative assessment roll for FY24 shows the total market value of all New York City properties is $1.479 trillion, a 6.1 percent increase from Fiscal Year 2023. Property values for FY24 reflect real estate activity between January 6, 2022, to January 5, 2023, the taxable status date."</ref><ref name="NYC real estate">{{cite news |url = https://www1.nyc.gov/assets/finance/downloads/pdf/press_release/fy2017_tentative_assessment_roll.pdf |title = Department of Finance Publishes Fiscal Year 2017 Tentative Assessment Roll |publisher = [[New York City Department of Finance]] |date = January 15, 2016 |access-date = November 26, 2021 |quote = Today, Jacques Jiha, Commissioner for the Department of Finance, announced the publication of the Tentative Property Assessment Roll for fiscal year 2017, which shows the total Market Value for the upcoming year at about $1.072&nbsp;trillion, an increase of $102.5&nbsp;billion, or 10.6 percent from the 2016 Fiscal Year. }}</ref> [[Fifth Avenue]] in Midtown Manhattan commands the highest retail rents in the world, at {{convert|2000|$/ft2|$/m2}} in 2023.<ref>Boonshoft, Michael. [https://www.cushmanwakefield.com/en/news/2023/11/ny-fifth-avenue-retains-its-top-ranking-as-the-worlds-most-expensive-retail-destination "New York's Fifth Avenue Retains Its Top Ranking As The World's Most Expensive Retail Destination"], [[Cushman & Wakefield]], November 20, 2023. Accessed January 13, 2024. "New York's Fifth Avenue retains its top ranking as the world's most expensive retail destination, despite recording flat rental growth year-over-year (YOY)."</ref><ref>{{cite web |url=https://www.forbes.com/sites/markfaithfull/2022/11/25/new-yorks-fifth-avenue-worlds-most-expensive-shopping-street/?sh=cf0488a19a38|title=New York's Fifth Avenue World's Most Expensive Shopping Street|work=[[Forbes]]|date=November 25, 2022|access-date=January 13, 2024|author=Mark Faithfull}}</ref>

New York City has one of the highest [[cost of living|costs of living]] in the world, which is exacerbated by the city's housing shortage.<ref>Horowitz, Alex; and Staveski, Adam. [https://www.pewtrusts.org/en/research-and-analysis/articles/2023/05/25/new-yorks-housing-shortage-pushes-up-rents-and-homelessness "New York’s Housing Shortage Pushes Up Rents and Homelessness"], [[The Pew Charitable Trusts]], May 25, 2023. Accessed March 17, 2024. "Housing construction in New York City and its suburbs has lagged far behind that of other major cities and their suburbs, resulting in low housing availability and a vacancy rate of just 3%. New York City’s housing stock has only increased 4% since 2010, not nearly enough to keep up with its 22% increase in jobs. And from 2017 to 2021, New York City permitted 13 homes for every 1,000 residents in 2017, while Boston added 28, Washington, D.C., added 43, and Seattle added 67."</ref><ref>Morabito, Charlotte (June 24, 2024). [https://www.cnbc.com/2023/06/24/how-new-york-citys-sky-high-cost-of-living-stacks-up-to-london.html How New York City's sky-high cost of living stacks up to London], [[CNBC]]. Retrieved January 12, 2024.</ref> In 2023, one-bedroom apartments in Manhattan rented at a median monthly price of US$4,443.<ref>Duddridge, Natalie (August 11, 2023). [https://www.cbsnews.com/newyork/news/manhattans-average-rent-soared-to-record-5588-in-july/ Manhattan's average rent soared to record $5,588 in July]. CBS New York. Retrieved January 12, 2024.</ref> The median house price city-wide is over $1 million as of 2023.<ref>Barrett, George (August 2, 2023). [https://www.nyrealestatetrend.com/home-prices-and-property-values-in-new-york/ Home Prices and Property Values in New York]. NY Real Estate Trend. Retrieved January 12, 2024.</ref> As of 2023, there were 92,824 [[Homelessness in the United States|homeless people]] sleeping nightly in New York City's shelter system, with homelessness in the city reaching the highest levels since the [[Great Depression]].<ref>[https://www.coalitionforthehomeless.org/basic-facts-about-homelessness-new-york-city/ Basic Facts About Homelessness: New York City], [[Coalition for the Homeless]], updated December 2023. Accessed January 13, 2024. 'In recent years, homelessness in New York City has reached the highest levels since the Great Depression of the 1930s. In November 2023, there were 92,824 homeless people, including 33,365 homeless children, sleeping each night in New York City's main municipal shelter system. A total of 23,945 single adults slept in shelters each night in November 2023."</ref>

With 33,000 units available in 2023 among the city's 2.3 million rentable apartments, the vacancy rate was 1.4%, the lowest level since 1968 and a rate that is indicative of a shortage of available units, especially among those with rents below the median monthly rental of $1,650, where 1% of units were available.<ref>Zaveri, Mihir. [https://www.nytimes.com/2024/02/08/nyregion/apartment-vacancy-rate-housing-crisis.html "New York City’s Housing Crunch Is the Worst It Has Been in Over 50 Years Only 1.4 percent of the city’s rentals were available in 2023, according to new data, the lowest portion since 1968. The market was even tighter for lower-cost apartments."], ''[[The New York Times]]'', February 8, 2024. Accessed February 9, 2024. "The portion of rentals that were vacant and available dropped to a startling 1.4 percent in 2023, according to city data released on Thursday. It was the lowest vacancy rate since 1968 and shows just how drastically home construction lags behind the demand from people who want to live in the city.... Then, that number — about 33,210 units in 2023 — is divided by the roughly 2.3 million total rental homes in the city that are either available or occupied by tenants. The vacancy rate dropped to 1.4 percent even as the city added some 60,000 homes over the past two years, according to the city data."</ref>