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Only 23% of New Yorkers Can Afford Median Rent — And Prices Are Surging

A salary of $110,000 is necessary to make the monthly payment and prices are set to go even higher as people move back to NYC.

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Rent CEO Says Rental Price Surge Is Slowing Down

It’s getting harder and harder to find an affordable apartment in New York City.

A city resident needs to make a salary of $110,000 to afford the median asking rent of $2,750 for available apartments, meaning putting no more than 30% of one’s gross income toward housing, according to a recent report by the New York City Department of Housing Preservation and Development. Roughly 23% of full-time workers in New York had six-figure salaries as of 2020.