4 ms·
I thought the median had to be significantly lower with those ultra luxurious rentals distorting the average, but I was wrong. The median is $4000 as of a few m
by ezequiel-garzon 4y ago
I thought the median had to be significantly lower with those ultra luxurious rentals distorting the average, but I was wrong. The median is $4000 as of a few months ago: https://www.elliman.com/corporate-resources/market-reports https://www.elliman.com/corporate-resources/market-reports
- xhrpost 4y agoI was wondering this too, I know plenty of people who live alone in Manhattan and don't pay anywhere near $5k. Some renewed recently even but I don't know who had stabilization and who didn't. Where did you see the $4k number? This looks like condo and co-op numbers mostly?
- ezequiel-garzon 4y agoIt is highlighted in the reference I gave (which I found in a NY Times article). Look for “view report” after “The median rent in Manhattan reached the $4,000 threshold for the first time as lease signings continue to rise.”
- usrn 4y agoIf the median is higher than the mean that probably means the distribution is heavier on the positive side. Cheap apartments are illegal and the legal ones don't get financed/constructed. There's a cutoff much higher than zero for housing costs everywhere in the US and I'd imagine it's pretty high in NYC.
- IceHegel 4y agoThis is the per apartment rate, so anyone with roommates is paying a fraction of the listed rent.
- AlwaysRock 4y agoAh. The age old solution. Having 4 roommates in a two bedroom.
- asdff 4y agoIf you go to uni in california you are probably having 4 in a bedroom, so graduating to just 2 per bedroom is a big upgrade in standard of living. We've normalized tenements for the engineering class already for a lot of places.
- acchow 4y ago4000 in rent is not significantly lower than 5000?
- ezequiel-garzon 4y agoIt is, I was expecting it to be less, can’t tell you how much.