It’s no secret that rent in New York is expensive. However, the neighborhoods that are actually the most unaffordable may surprise you.
Renthop recently released a study of the city’s current real estate market that compares two-bedroom median rents to neighborhood incomes. For an apartment to be considered “affordable,” the percent of income spent on rent should be 35 percent or less.
Of the 139 neighborhoods that the site crunched data on, a mere 9 had median asking rents that could be afforded. That’s just 6.5 percent of neighborhoods, the lowest percentage of any city they looked at. Zoinks!