Rents in New York City are at an all-time high. The median asking rent in Manhattan reached $4,100 in June 2022. CNBC Make It spoke to three New Yorkers whose rents increased up to $2,100 a month.
But are New Yorkers willing to pay up? One challenge for renters is the requirement that they earn 40 times the rent when applying for an apartment. With the median asking rent in Manhattan around $4,000, that means the minimum income to qualify for an apartment at that price is $160,000. The median household income in New York City is $67,000.
Correction (Aug. 23rd, 2022): At 01:46 the video misidentified that Thelma Annan is 32 years old. She is 31 years old.
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Why Rent In NYC Is Out Of Control Right Now
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Thelma eventually realised – that ppl in London were so much nicer to her🤭🤭🙏🇬🇧
They definitely chose the worst people to interview for this. Should have gotten some real native New Yorkers. I was born and raised in this city and it's really depressing how I possibly can't afford to live here any longer because of how this system is set up. My only real option is to move elsewhere, but having been spoiled by "the city that never sleeps," it's going to be really difficult to adjust to any other place where most shops close after 6-8PM.
So you vote the people in that cause these issues and still idolize them morally then blame it on the other side .Then move to a conservative state cause its nice and there is no crime . then still vote the same way excepting different results !sounds pretty nutty !
More evidence in how democrats don't help the working class. Keeping ppl poor since Detroit.
Bulldoze that city.
Not worth it, move if you can. This kind of lifestyle will drain you, city life is not worth it.
The renting companies with their "fancy" apps are the worst perpetrators of rent hikes and ridiculous fees. Their greed is causing these rent hikes, it's not necessarily individual landlords.
Available Junior 4-COOP
Price: $2500.00,
Location, Kew Gardens, NY
Time for the city to invest in some public housing.
Born and raised NY’er here. This city is insanely filthy, filled with rodents, attitude and bitterness. There’s so much more to life than $4,000 for a shoe box. I’m running for the hills. Bye New York. I’ll visit you from time to time.
I don't get how anyone can afford $900 rent a week? That is crazy expensive for 1 bed
I Left NYC 2 Times n Came back ( This is my home 4 Ever)- I Love The Rotten Apple…..
I don't understand people trying to live in places they can't afford. Honestly is the 'atmosphere of the city' worth stressing out every month about money. People don't want to commute long hours to work instead half their worktime goes to covering rent.
Who's allowing to this company or Landers to raise that amount to rent when people are not making enough money to pay the rent????
Renters are trying to run out a certain demographic from within the city
In case you looking for cheap city,nice weather,polite people,no trafic, dont mind to sweat some few times a year dont forget about las vegas…
Screw it. Let talent diversify across the world. Having 'talent' concentrated into one city is stupid anyways
I don't feel bad for them. No reason to do any of this. Don't live in the stupid city. How bout that
the fact she can just move to London lmaooo gorll – def need some actual natives
The crime rate is also out of control right now.
NY is a criminal's utopia. The people there made it what it is so they should enjoy the fruits of their labor.
if you are liberal and moving, don't carry your stupid policies with you
New York vs California
Landlord expenses are not increasing by as much, so it is greed that is driving the rent inflation.
I would never get tired of saying thanks to above because he never get tired of feeding me and my family with the weekly coin programmer 🥰🥰
40x the rent! Dang.
That’s amazing video keep it up 👍
My God you guys are getting F**KED!!!!😳
Halfway through this video and still no word o why the rents are up so much. This is 💩. Get to the point and stop wasting my time .
The finish line keeps moving. What is the purpose of running in this race anymore? So relatable.
People. Move out of NYC. You’re paying $4000 for a small 1 bedroom apartment… for toxic fumes, rats and cockroaches. MOVE!
Forget about NYC – time to move to the patriotic town of Chillingbourne.
Hair , Nails , Makeup still cost more
Another example of rampant unregulated capitalism failing in the US.
Just change the locks, and squat do what the boomers did. Same thing happens over and over again
All of this increases meanwhile the salaries remains the same…🤔
That's why buying a home is the way to go landlords are crooks
Remember folks, they took rent and housing costs out of the inflation index so you wouldn’t understand how much you are losing. The inflation rate is not 8%.
Landlords are parasites
You think this is bad, try moving to London. At least pay in New York is quite good. London companies try to low ball you.
The plan is working.
One of the saddest things about this is that sis thinks London is going to be a much cheaper option. Rents are extremely high here as well, and salaries are comparatively lower for the same roles.
$2,400 for a 1bd is ridiculous! I pay $1,100 for a 3bd/2bath in California