New York City Residents Paying as High as 60% of Income on Rent

AP Photo/Seth Wenig
AP Photo/Seth Wenig
New York, NY

A new survey has found that New Yorkers spend a larger percentage of their paychecks on rent than most other Americans.

The new survey by real estate website found that citizens of the Big Apple pay nearly 60 percent of their income on rent in 2015.

The median rent in the city will reach $2,700 a month this year, but stagnant incomes and a lack of jobs is making it difficult for residents to keep up with costs.

New Yorkers have varying degrees of rent-to-income percentages, but nearly all of the boroughs rate higher than the 30 percent that is considered “affordable.”

The survey found that Brooklyn had the worst percentage at 60 percent, while the Bronx isn’t too far behind at 52 percent. That is followed by 48.8 percent for Manhattan, 41.4 percent for Queens, and 30.1 percent for Staten Island.

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