Rents in New York City are at a record high. The median asking lease in Manhattan reached $4,100 in June 2022. CNBC Make It talked to three New Yorkers whose rents magnified up to $2,100 a month.
But are New Yorkers willing to pay up? One challenge for renters is the requisite that they earn 40 times the lease when implementing for an apartment. With the median asking lease in Manhattan around $4,000, that means the minimal income to meet requirements for an apartment at that price is $160,000. The median household income in New York City is $67,000.
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Why Rent In NYC Is Out Of Control Right Now