Manhattan Rent Implies $215,000 in Annual Household Income Under 30% Rule
Photo: TokenPost
Manhattan’s median asking rent was $5,375 a month in the third quarter, implying $215,000 in annual household income under a 30% housing-cost benchmark as the reported New York City median reached a series high. The reported New York City median asking rent was $3,785 a month, up $162, or 4.5%, from a year earlier. The series begins in the second quarter of 2019, making the third-quarter figure its highest point to date. Among the bedroom-size groups, asking rents for units with up to two bedrooms rose 7.1% year over year to $3,662 a month.
Source: TokenPost
