""Together, these reports establish a framework for how our city will both measure affordability and plan for the future. The true cost of living measure confirms what New Yorkers have long known to be true. Many people cannot afford the city that they love.""
""The inaugural report reveals 62% of New Yorkers, 5.04 million people, do not make enough money to cover the actual cost of expenses to live in the city, with disproportionate impacts on communities of color.""
""Disabled New Yorkers feel the burden the most, with 92% unable to meet their cost of living, with an average gap of $76,178.""
""The racial equity plan is required to be implemented by the city's charter, under ballot reforms that voters passed by a landslide in 2022.""
The city's inaugural racial equity plan addresses systemic racism across 45 agencies, tracking over 600 indicators. The true cost of living measure reveals that 62% of New Yorkers cannot afford basic expenses, with families needing $159,197 for economic security. Disparities are pronounced among communities of color, with 73% of children in families unable to meet living costs. Disabled individuals face the greatest challenges, with 92% unable to afford living expenses. The plan is mandated by the city's charter following voter reforms in 2022.
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