NYC’s Economic Engine
New York City wouldn’t be New York City without the work of the real estate industry. And that’s not just about our iconic skyline – it’s about the positive impacts the industry has on the lives of millions of everyday New Yorkers.
The vital tax revenue generated by real estate market activity pays for the basic government services that City residents rely on – everything from garbage collection to public schools and parks, from social services to police and firefighters, and much more.
In addition to generating the necessary funds for public sector employment and resources, the real estate and construction industries are an important source of family-sustaining jobs for New Yorkers.
Sources: NYC Adopted Budget (FY 2021); NY State Department of Labor
Real Estate’s Share of City’s Tax Base
Taxes From Real Property Tax Assessment
Real Estate and Construction Jobs in New York City
We’re not just building a stronger city – we're building a more equitable city. The REBNY Foundation has provided support for New Yorkers impacted by the pandemic and is creating job opportunities for historically underserved men and women on new construction sites.
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Joining REBNY connects you with more than 15,000 other real estate professionals at the forefront of New York City’s economic growth. Our members get ahead and stay ahead with exclusive events, industry-leading resources and services, access to REBNY’s RLS and so much more.