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With the New York International Auto Show set to open at the Javits Center tomorrow, we wondered: How many City residents actually own cars?
We looked at the latest Census data on car ownership rates for households in the nation. According to the data, only 1.4 million households in the City out of the total 3.0 million owned a car. Within the five boroughs, ownership is lowest in Manhattan, with only 23% of households owning a car, followed by Brooklyn and the Bronx, with 44% and 46% respectively. In contrast, a large majority of households in Queens (64%) and particularly in Staten Island (84%) own at least one car. These overall ownership rates for City residents are notably different than that of the nation, where 92% of all households own at least one car and 20% report owning three or more vehicles.
Even though many New Yorkers do not own a car, they still love cars. The annual auto show is expected to draw more than a million visitors, making it the highest attended show at the Javits Center. Of course, the show draws more than just local residents, as aficionados from all over the tri-state region and country are expected to attend. The combined economic impact of all these visitors coming to the City and spending money in hotels, restaurants, shops and the like is estimated to exceed $100 million.
StatsBee is a column featuring interesting statistics about NYC, written by economists at the Economic Research & Analysis department within NYCEDC’s Center for Economic Transformation.