Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
What is avg income of NYC? How much a person needs to live in good areas of Manhattan ?
The average studio rent in Manhattan is around $2,400. Using the standard 40 times rent rule, that would be around $96,000 to live alone in Manhattan, or a little less than double the median income.
And by the reverse formula the median family, half of the City's households making less than $51,000, can afford an apartment costing less than $1275, presumably for a family of 4.
And by the reverse formula the median family, half of the City's households making less than $51,000, can afford an apartment costing less than $1275, presumably for a family of 4.
A serious disconnect.
I guess that explains all of the families of 3 and 4 people living in 1 bedroom apartments in the "outer boroughs."
The average studio rent in Manhattan is around $2,400. Using the standard 40 times rent rule, that would be around $96,000 to live alone in Manhattan, or a little less than double the median income.
That's why most people in Manhattan have roomates.....
And by the reverse formula the median family, half of the City's households making less than $51,000, can afford an apartment costing less than $1275, presumably for a family of 4.
A serious disconnect.
Average household size is 2.61 so a bit less than 4. Many of the households are childless. Places like the Upper East Side have an average household size of 1.7, the wealthier places often have fewer children.
Median household income in the Upper East is 111k. Median used because the skew to the super rich makes mean unuseful. Upper East is a good but not top-scale neighborhood, when taking into account the whole square.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
