The demand for Long Island apartments continues to grow as housing costs skyrocketA new report finds that of the 85 percent of Long Islanders living in single-family homes, one-third would trade their homes for apartments or condominiums in a downtown area, according to Newsday.

The study, commissioned by the Garden City-based Rauch Foundation, cited rising housing costs as a major factor. It reported that nearly three in four people said they would not be able to afford their own home at today's prices. Such high costs of living as well as the lack of apartments and homes for rent on the island are driving young people away.

The report concludes that Long Island will need to create between 7,000 and 8,000 new housing units annually just to accommodate population growth. The island's 23 downtowns are able to accommodate 100,000 new housing units over the next 25 years - about half what the region will need.