Post by cosyliving on May 10, 2021 16:35:21 GMT
How much it costs to rent in 28 Manhattan neighborhoods, ranked from the least expensive to the most
How much it costs to rent in 28 Manhattan neighborhoods, ranked from the least expensive to the most
Hillary Hoffower and Shayanne Gal
May 20, 2018, 8:30 AM
how much does it cost to live in NYC
The cost of living in New York City is at least 68% higher than the US average. Cocozero/Shutterstock
The cost of living in Manhattan is more than double the US average.
The NYC cost of living is so high partly due to its exorbitant housing market — the average rent for a Manhattan apartment is $3,667.
RENTCafé broke down the average rent for different Manhattan neighborhoods, and we ranked them from most to least affordable, from SoHo to the East Village.
City life comes with a lot of dollar signs — especially in Manhattan.
The cost of living in New York City is at least 68% higher than the US average, according to SmartAsset. If you think that's a lot, the cost of living in Manhattan specifically is more than double the national average.
At the center of it all is New York City's high-cost housing market. Asking rents in New York City increased by 33% from December 2009 to June 2017 at roughly 3.9% a year, reports StreetEasy.
And while the NYC rental market has seen declining prices this year, the average rent for an apartment in Manhattan remains exorbitant at $3,667 — a 10% decrease compared to $4,085 the previous year. To put things in perspective, that's only a few hundred dollars shy of the typical US worker's average monthly income of $3,895.
That number is even more shocking considering that the average size for a Manhattan apartment is only 703 square feet.
Hillary Hoffower and Shayanne Gal
May 20, 2018, 8:30 AM
how much does it cost to live in NYC
The cost of living in New York City is at least 68% higher than the US average. Cocozero/Shutterstock
The cost of living in Manhattan is more than double the US average.
The NYC cost of living is so high partly due to its exorbitant housing market — the average rent for a Manhattan apartment is $3,667.
RENTCafé broke down the average rent for different Manhattan neighborhoods, and we ranked them from most to least affordable, from SoHo to the East Village.
City life comes with a lot of dollar signs — especially in Manhattan.
The cost of living in New York City is at least 68% higher than the US average, according to SmartAsset. If you think that's a lot, the cost of living in Manhattan specifically is more than double the national average.
At the center of it all is New York City's high-cost housing market. Asking rents in New York City increased by 33% from December 2009 to June 2017 at roughly 3.9% a year, reports StreetEasy.
And while the NYC rental market has seen declining prices this year, the average rent for an apartment in Manhattan remains exorbitant at $3,667 — a 10% decrease compared to $4,085 the previous year. To put things in perspective, that's only a few hundred dollars shy of the typical US worker's average monthly income of $3,895.
That number is even more shocking considering that the average size for a Manhattan apartment is only 703 square feet.