Brooklyn’s Coney Island and Brighton Beach have experienced significant economic growth, with job creation doubling over the past decade, but residents face high housing costs, according to a new report released by State Comptroller Thomas P. DiNapoli.
The report revealed that jobs in Coney Island and Brighton Beach increased by 101% since 2013, reaching 35,203 in 2023, according to a press release.
This surge significantly outpaces job growth in Brooklyn overall (49.3%) and citywide (18.7%). Most new jobs are concentrated in healthcare and social assistance, the report said.
However, residents face high housing costs. Approximately 61.1% of renters in the area spend over 30% of their income on housing, compared to 51.1% across Brooklyn. Median household income in 2022 was $43,146, substantially lower than both borough and city averages.
“Coney Island and Brighton Beach have undergone robust economic growth led by rapid job and business creation over the last decade,” said DiNapoli. “Millions visit and have fun there every year, but for the people who live and work in the area, its strong economic growth is tempered by poverty rates and housing cost burdens which remain high. Coney Island and Brighton Beach are jewels among our city’s neighborhoods, but addressing these issues must be a priority.”
Among the nearly 120,000 residents is a relatively large young population — 22.8% are under 18 years — but what sets the area apart is its older adult population — 24% are 65 years and over, the second highest concentration in the city, the report said.
In addition to spurring jobs in health care and other sectors, the large older adult population has implications for other issues such as housing costs, transport and age-related health conditions. Notably, the area is home to at least three naturally occurring retirement communities (NORCs), where residents are aging in place within their own homes and communities, the report found.
The number of businesses in the area increased by 29.9% over the decade ending in 2023, with business services, construction, and the health care sectors making up more than one-half of the increase. Health care, retail trade, and business services accounted for 46.9% of all businesses in Coney Island and Brighton Beach.
Brooklyn Borough President Antonio Reynoso said the report indicated Brooklyn’s tenacity, despite the challenges it has faced.
“Coney Island and Brighton Beach are long overdue for a win like this,” he said. “From high levels of rent burden to the ongoing devastation left behind by Superstorm Sandy, Coney Island and Brighton Beach have faced incredible hardship.”
Among renters, 61.1% struggle with burdensome housing costs that consume 30% or more of their household income, compared to 51.1% in Brooklyn and 52.1% citywide. That gap expands among renters who are severely burdened — spending 50% or more of their income on housing — 42.3% in the area compared to 29.1% in Brooklyn overall and 29.5% citywide.
The area is home to nearly 6,000 New York City Housing Authority (NYCHA) apartments in four developments, comprising 11.6% of all area housing units, and 9.5% of NYCHA units citywide.
Trends in 311 complaints highlight a need for attention to housing conditions, which make up the bulk of the calls from the area. A comparison of January to July 311 data over the past four years shows an increasing trend in complaints highlight poor housing conditions such as broken elevators, water leaks, and paint and plaster issues, the report said.
Brooklyn Council Member Justin Brannan emphasized the need for continued investment to ensure that economic growth benefits all residents.
“We need to double down and make sure Coney Island gets the investments we need to keep up this economic growth going,” he said.
