According to studies, people living in Nassau and Suffolk counties pay a higher share of their income for housing than other suburbs in the New York region, and new housing coming on the market costs too much for a majority of residents, especially young adults just starting their careers.
More than ever, Long Island residents are struggling to pay for housing. Since 1980, the Island has lagged behind regional competitors like Northern New Jersey and the Hudson Valley in residential construction. With comparatively little new housing stock and variety, home prices and rents in Long Island have soared.
At present 15 percent of Long Islanders live in an apartment, a condominium or a townhouse, but in five years 29 percent say they want to live in one of those options. In addition, 69 percent of Long Island residents aged 18 to 34 claim they are somewhat or very likely to leave Long Island in the next five years.