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nyc rental affordability

Started by chess3434
almost 10 years ago
Posts: 17
Member since: Aug 2015
Discussion about
how are there so many people in nyc who can afford to pay 5,000 or more monthly in rent? In addition, they need to have good credit. And if they have kids, there are additional expenses (school--even if public, summer camp, lessons). So it seems that families would need to make around 300,000 a year to afford that.
Response by hanklin
almost 10 years ago
Posts: 36
Member since: Apr 2016

You are right and you have to factor being in a career where income increases annually beyond that because the $5000 rental will cost $6000 in a few years before you know it.

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