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Living in the Big Apple is notoriously pricey, but the numbers are downright shocking.
A new study by QR Code Generator, using Zillow data, shows New Yorkers pay an average rent of $3,783.80 per month.
That’s a jaw-dropping 164% more than the national average.
Even so, New York City isn’t the most expensive rental market in the US.
That dubious honor goes to Bridgeport, Connecticut — not terribly far from New York City — where the average rent for a single-family home hits a staggering $5,641.92 per month.
Residents in Bridgeport are spending 91.63% of their post-tax income on rent, compared to New Yorkers who shell out around 68.39%.
As of May 2024, affordable rentals for those making the average salary of just under $89,000 are almost nonexistent in NYC, with less than 5% of available units fitting the bill.
The median rent jumped 8.6% from 2022 to 2023 alone.
California cities like Los Angeles, San Jose and San Diego follow Bridgeport in the rankings, making up the second, third, and fourth most expensive places to rent.
California has 10 cities in the top 100 priciest rental markets, while New York State boasts 18% of the country’s most expensive ZIP codes.