Manhattan rents have soared to an all-time high of more than $4,000 as rising interest rates squeezed the market. The New York City neighborhood saw a 10.7 percent rise year-over-year to hit a median of $4,043 per month in February - or a mean average of $5,186. New York City as a whole has a median monthly rental of $2,141.
Manhattan was around 40 per cent more expensive than living in Los Angeles, which has an average monthly rental of $2,600. California dominates the top ten with San Jose, San Francisco and San Diego all with average rents higher than $2,000. I'll post the graphic tomorrow morning.
That's the old "Make the cost of living so high they can't afford to ruin the neighborhood" theory of discrimination and racism.../sarc for those who need it...
ReplyDeleteWay back around 1995, I used to deliver cars to a dealership in NYC. They had a fenced in lot behind the store that was maybe 75' x 75'. They gave it up because it was costing them $85,000 a month rent back then.
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