Real Estate Institute at Stony Brook University College of Business: Impact of Market Rate Apartments on School District Enrollment May 2019.

The Real Estate Institute at Stony Brook University’s College of Business conducted a study where they followed 14 multifamily developments in 10 different school districts across Nassau and Suffolk counties. 

The study found that, over the last decade, new developments:

  • Accounted for 3,928 units of housing. 
  • Produced only 313 new students (1 student per 10 housing units). 
  • Were tax-positive for their communities.
  • Brought in occupants that lead to new property and school taxes and took advantage of the school at a much lower rate than single-family occupants. 

For further details, please click here.

Survey: The Next Generation of Long Islanders.

A study comprising 1,805 online surveys of adults between the ages of 18 and 34 was recently conducted. Among other things, the study found that

  • More than 2 in 3 Long Islanders either rent or live in the home of a relative, most in single-family homes.
  • 67% plan to move away from Long Island for more affordable housing.
  • Long Island lags behind New York City and New York State in rental occupancy.
  • 87% want to live in a place that supports small business and independent stores. 
  • 85% want to live close to a vibrant and pedestrian-friendly downtown.
  • 74% stated that they prefer living in a place that is known for being artistic and creative.

For more information, click here.