WITH COMPANIES LIKE MICRON COMING INTO THE AREA.

TAKE A LOOK.

>> RENTS ARE RISING-FOR-ALL TYPES OF HOUSING.

PEOPLE SHOULD BE SPENDING ACCORDING TO FEDERAL STANDARDS 33 TO 40% OF THEIR INCOME ON RENT, AND THIS IS DRAMATICALLY GONE UP.

EVEN THOUGH THERE HAS BEEN SOME INCREASE IN WAGES, THERE HAS NOT BEEN ANY INCREASE THAT COMPARES TO THE RAISE IN THE RENTS.

>> SO AS OF AUGUST, 2024, IN THE SYRACUSE METRO AREA, RENTS WERE UP ABOUT 7% COMPARED WITH AUGUST OF 2023.

RENT IN THE SYRACUSE METRO AREA SINCE FEBRUARY OF 2020, WHICH IS THE LAST FULL MONTH BEFORE THE PANDEMIC HIT, SINCE THAT TIME, IT'S UP ABOUT 42%.

>> A LOT OF THE RISE IN RENTS, IN MY OPINION, HAS BEEN IN THE MIDDLE AND UPPER INCOME RENTS.

AND THOSE ARE AGREED.

IT'S THE INCOME SIDE THAT HAS MADE THESE RISING RENTS UNSUSTAINABLE AND DRIVEN PEOPLE INTO HOMELESSNESS IN OUR COMMUNITY.

>> IT COMES DOWN LARGELY TO SUPPLY AND DEMAND.

WE SIMPLY HAVEN'T BEEN BUILDING ENOUGH.

IF YOU LOOK AT BUILDING PERMIT DATA FROM THE CENSUS BUREAU, THE NUMBER OF HOUSING UNITS THAT WE ARE BUILDING HERE IN THE SYRACUSE AREA ARE NEAR ALL TIME LOWS IN THIS DATA, WHICH GOES BACK TO 1990.

IT IS NOT ONLY A SUPPLY AND DEMAND ISSUE CONSTRUCTION COSTS ARE MUCH HIGHER NOW THAN THEY WERE BEFORE THE PANDEMIC.

THERE WERE AND CONTINUE TO BE IN SOME CASES, SUPPLY CHAIN ISSUES.

>> ONE OF MY BIGGEST CONCERNS IS MICRON.

THERE IS VERY LITTLE PLANS AND SO MUCH OPPOSITION FROM THE TOWN OF CICERO.

>> CERTAINLY OFFICIALS IN THE COUNTY BELIEVE THAT WE ARE GOING TO BE SEEING A LOT OF NEW RESIDENTS AS A RESULT OF MICRON, AND THAT'S JUST GOING TO ADD PRESSURE TO AN EXISTING SITUATION.

SO FARCE THE POTENTIAL SOLUTIONS TO THIS GO, GOVERNMENTS HAVE GOTTEN INVOLVED ON THIS TOPIC IN THE LAST FEW YEARS.

HERE IN SYRACUSE, THE CITY OF SYRACUSE DID A MAJOR REZONING INITIATIVE.

THEY DID A FAIRLY COMPLETE OVERHAUL OF THE CITY'S ZONING REGULATIONS AND THEY ADDED SOME AFFORDABLE HOUSING REQUIREMENTS.

>> SO ALL KINDS OF CREATE EU6 SOLUTIONS-- SO ALL KINDS OF CREATIVE SOLUTIONS THAT NEED TO BE LOOKED AT.

ADDITIONAL DWELLING UNITS ON AN EXISTING PROPERTY, WHETHER IT BE ON A GARAGE, REBUILDING A GARAGE OR ADDING ON TO A HOUSE, THAT WOULD BE HELPFUL.

TINY HOUSES, ALL THE RAGE, BUT WE DON'T HAVE PLACES WHERE PEOPLE CAN, YOU KNOW, PLACE THEIR TINY HOUSE.

>> WE DIDN'T GET INTO THIS SITUATION OVERNIGHT.

IT TOOK YEARS FOR US TO GET TO THIS POINT.

IT IS NOT GOING TO BE EASY TO GET OUT OF IT.

>> I HAVE NO IDEA WHERE EVERYONE IS GOING TO LIVE BECAUSE WE ARE GOING TO HAVE MORE PEOPLE AND NOT, YOU KNOW, MORE HOUSING.

SO THAT IS REALLY ONE OF OUR