The Rent is Too Damned High...In San Francisco
Wednesday, August 06, 2014
New Yorkers like to complain that the rent is too damned high.
But it's not as high as San Francisco or San Diego or Washington, DC.
A new report from the Citizens Budget Commission found the median rent in New York City is $1,196. That compares to just over $1,512 in San Francisco, $1,298 in San Diego and $1,235 in the nation's capital.
The report also looked at affordability and found that just over half of renters in New York spend more than 30 percent of their income on housing. But it's worse in Miami and Los Angeles where 62 percent and 59 percent, respectively, pay more than a third of their income to housing costs.
New York did top the other 22 cities the CBC measured in the number of renters: more than 2 of every 3 occupied home was a rental.
A new report from the Citizens Budget Commission found the median rent in New York City is $1,196. That compares to just over $1,512 in San Francisco, $1,298 in San Diego and $1,235 in the nation's capital.
The report also looked at affordability and found that just over half of renters in New York spend more than 30 percent of their income on housing. But it's worse in Miami and Los Angeles where 62 percent and 59 percent, respectively, pay more than a third of their income to housing costs.
New York did top the other 22 cities the CBC measured in the number of renters: more than 2 of every 3 occupied home was a rental.
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Charlie Herman, Business and Economics Editor
Charlie Herman is the Business and Economics Editor for WNYC News and the national morning news program, The Takeaway. He regularly reports on local and national business stories at the station. Charlie hosts WNYC's weekly finance segment, Money Talking and edits and produces the weekly tech segment New Tech City. Charlie joined the station in April 2010.
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Comments [1]
The study does not distinguish
between boroughs, so yeah... lumping in Queens, SI and Bronx into this
makes the comparison a little unfair. Good luck finding an apartment
(literally any apartment) that is $1,196 in Manhattan.
