Village of New Paltz trustees are increasingly concerned that the housing market in New Paltz —whether one is renting or owning — is becoming out of financial reach for local residents. An impromptu discussion of these concerns was prompted by a request for the elected officials to find ways to keep housing costs in line with local income levels.
This issue has been simmering for some time, according to deputy mayor KT Tobin, and the pandemic is exacerbating it, with high unemployment and many landlords in a difficult financial position because they chose to borrow money to purchase properties. Higher incomes to the south mean those migrating northward can push up local prices on property as well.
Trustee Alex Wojcik has been studying solutions being explored in Ithaca. Because Ithaca is a city, elected officials there have more powers than anyone in a village would under state law. For example, Ithacan health officials are looking into freezing rents due to the ongoing public-health emergency.
New Paltz village officials are exploring a possible law to limit short-term rentals in the village to those occupied by owners, which could limit interest in properties by out-of-town folks who can bid prices up. State legislators did expand areas where rent control might be imposed, but the criteria are hard to meet and New Paltz doesn’t fit the bill.
“There are no simple answers,” said Tobin. Help is needed. The affordable housing board and the landlord-tenant relations council are two relevant village groups in need of volunteers.
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