City Insights for Renters
New York Housing Overview
Population
8,103,960
City residents
Median Income
$86,000
Annual household income
Median Rent
$4,500
Monthly for 1-bedroom apartment
Affordability Index
0.35
Ranked 175th most affordable city
Current Average Rental Prices
Studio
$3,750
Lowest1 BR
$4,500
2 BR
$5,491
Highest3 BR
$5,325
Average across all units$4,767
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Housing Market Insights
In New York, the average entry-level worker spends 65% of their salary on rent for a 1-bedroom apartment. This exceeds the recommended 30% guideline for housing expenses.
65%
Affordable (<30%)
Moderate (30-40%)
Expensive (>40%)
Data is for informational purposes only. Actual rental prices and affordability may vary.