Monday, August 15, 2022

New York is the most expensive two-bedroom rental in America for $45 per hour

according to nationalLow incomeThe National Low Income Housing Coalition recently released the latest figures.New York CityResidents need to earn an average salary of $45 an hour and work full-time to buy a two-bedroom apartment in New York City;rent1 out of 185 metropolitan areas in the United States.

The Low Income Housing Coalition publishes an annual report called “Out of Reach” that shows the difference between renter wages and rent costs across the United States. The 2022 report sets the standard for affordable housing at over 30% of personal income for rent; Full-time work means working 40 hours a week and 52 weeks a year.

The “Unreachable” report shows that the minimum wage in New York State is $13.2. If residents live on this salary only, they must work at least 114 hours a week to afford the two-bedroom home; And have to work 99 hours a week to afford a one bedroom apartment.

The report also states that the median annual income should be $67,732, $78,465, $99,035 and $107,361 if you want to rent one-bedroom, two-bedroom, three-bedroom and four-bedroom apartments.

Aside from the expensive apartment prices in New York City, the situation in Long Island is similar. If you want to rent a two-bedroom apartment, you need to reach an hourly wage of $39.71; In Westchester County, above New York, you are required to have a minimum wage of $36.21 per hour. You can rent a two bedroom house.

At the same time, Lawn Love, a lawn care service agency, also reported that after comparing the average rent, rent insurance premium, utilities and other indicators of 185 rental markets, the average rent in the United States exceeds 2,000 yuan per month. It is done. In the United States, the New York urban area has become the most expensive metro area in the United States.

In addition, the New Jersey and Pennsylvania metro areas also rank first with the New York area, followed by Florida and California.


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