New York City Mayor Zohran Mamdani released a report on April 6 stating that about 5 million New Yorkers, or 62 percent of the city’s residents, do not earn enough to cover basic necessities and fully participate in the economy.
The figures came from his inaugural “True Cost of Living” report, which found an average resource gap of $39,603 for New York families. For the median family with children in New York City, the report said they needed about $159,000 in combined income per year.
“The True Cost of Living Measure offers an honest account of what it actually costs to live in this city, and who is being left behind. It shows that this is not a crisis affecting a small minority of New Yorkers,” Mamdani said in a statement….