Almost all NYC neighborhoods are unaffordable to current residents, based on apt. listing study

In Long Island City, with a $3,300 two-bedroom apartment median rent and a median household income of $28,378, tenants pay 139.54 percent of their incomes on rent. (Photo by King of Hearts/via RentHop.com)

By Sabina Mollot

In news that is certain to surprise absolutely no one, New York City fared the worst when compared to four other major cities in a study looking to determine which cities have the fewest neighborhoods with affordable two-bedroom apartments.

Additionally, in New York City, the neighborhoods with the highest low income to high rent ratio were the Lower East Side, Williamsburg and Long Island City.

Upper East Side-Carnegie Hill was actually the most affordable to the neighborhood’s own residents with an average household income of $155,213 and average two-bedroom rent of $3,555. The median income for all of NYC is $55,752 with a 2.4 person household.

The study was conducted by RentHop, an online apartment listings directory.

Continue reading