WHO ARE WE?
High Rise Renters are located predominantly in the Northeast, especially in New York City. This market
is near the top for density, diversity, presence of adult children, linguistic isolation, and foreign-born population. They travel far for employment, usually in service jobs, and depend on public transportation. These residents are young and struggling to make ends meet; a large portion of their income goes toward rent, demanded by their dense central city locations. High Rise Renters are compassionate people; young or old, near or far, they are devoted to their families. The younger generation is equally passionate about music, television, and fashion.
• Located mostly in New York City, housing units are in high-rise multi-unit structures. Almost half were built before 1950.
• Almost all residents are renters (Index 258), paying rents about 20 percent lower than the US average rent.
• This is one of the most diverse markets, with residents from a variety of cultural backgrounds. Almost 1 in 3 residents was born abroad; nearly 1 in 4 households have members who speak little English.
• This market is located in densely populated areas with easy access to public transportation. Commuting times are nonetheless long, and jobs are often in a different county.
• Single-parent and single-person households dominate. Multigenerational households are more common in this market (twice the US average).
• Accessible jobs are hard to come by in this young, diverse market. Workers tend to find minimum wage, mostly service jobs in health care, sales and retail.
• Wage income is heavily supplemented by public assistance and Supplemental Security Income.
• Despite high poverty rates, this market is fashion-conscious, often spending beyond their budget.
• Their young families are the priority, but they do explore other interests.
• High Rise Renters are risk takers, and believe life should be as much fun as possible.