{"id":180,"date":"2017-07-28T09:00:13","date_gmt":"2017-07-28T09:00:13","guid":{"rendered":"https:\/\/www.renthop.com\/content-manager\/?post_type=studies&p=6481"},"modified":"2017-07-28T09:01:08","modified_gmt":"2017-07-28T13:01:08","slug":"can-you-afford-to-live-in-new-york","status":"publish","type":"post","link":"https:\/\/www.renthop.com\/research\/can-you-afford-to-live-in-new-york\/","title":{"rendered":"New York Has Less Affordable Neighborhoods Than Other Major US Cities"},"content":{"rendered":"
Despite what you’ve heard, finding an apartment in NYC is actually pretty easy; affording one is the hard part. With median asking rents that vary from expensive ($1,750 for a 2-bedroom in West Concourse<\/strong>) to downright insane ($5,232.50 in Lincoln Square<\/strong>) it\u2019s no wonder New Yorkers are so pleasant.\u00a0To get a better understanding of the NYC affordable housing crisis, RentHop took a look at the data on two-bedroom apartments and compared it to the most recent median income data<\/a>\u00a0available at the neighborhood level.\u00a0(Interactive map and full list below)<\/strong><\/p>\n Of the 139 neighborhoods that we had data for, just 9 of them had median asking rents that could be afforded with 35% of the neighborhood\u2019s median income. That\u2019s just 6.5% of neighborhoods – the lowest percent among the 5 major cities we looked at.<\/strong>\u00a0Recommended affordability is 30% but we added an additional 5% to make room for income growth that has taken place since the Census data was released.<\/p>\n\n
The Map Below Compares NYC Two-Bedroom Median Rents to Neighborhood Incomes<\/strong><\/h2>\n