Posted on September 8, 2015 by Zoe Rosenberg in Curbed Curbed, By Zoe Rosenberg It’s no secret that rents in New York City are sky-high, but a new study by StreetEasy exposes just how unaffordable they really are (h/t NYDN). According to rent data gathered by the real estate site, New Yorkers need to earn an hourly wage of $38.80 to independently afford the city’s median rent of $2,690. But the most striking finding in the study is that for those making $8.75/hour, there isn’t a single neighborhood in the five boroughs that is affordable. In order to live independently—without roomates or more than one job—New Yorkers either have to make more than $8.75/hour or work more than 40 hours a week in order not to expend more than 40 percent of their gross annual income on rent.
