Ultimately, something under 45 percent of New York’s rental stock is trading in a free market; the rest is going at below-market rates to people who cling to those apartment like ancient barnacles. If you are lucky enough to have a good deal, you can live in the city for well below the average rent — though you should not assume that all the tenants of rent-controlled or rent-stabilized apartments are low-income.
Read her whole post.