How much does it cost to live as a single person in New York City compared to the rest of the country?
RentHop just released a report on the most affordable cities in America for single people. According to their findings, New York City actually ranks 49th out of 50 cities — a single person who makes $79,489 in New York has to put aside 36.99%.
The only city which beat New York this time is Miami, FL where people would need to put aside more than 37%. To add on to that, prices for studio apartments rose by 9%.
The third place from the bottom is New Orleans, LA. Median income has to catch up with rent prices. Average there is about $1,269 for a studio. A single person would need to spend 32.82% of their gross income on housing.
According to the report, the worst place to be as a single renter appeared to be Boston, whose rent went up to 21.62% compared to the same time in 2020.
When it comes to the most affordable cities, the top ranked city is Wichita, KS where only 13.63% of your income would go on studio apartment rental. The second on the list is Columbus, OH the rent there for a studio apartment is $625, dream rent price for any New Yorker.
Albuquerque, NM is considered as one of the most affordable cities as well. Despite the fact that in the past year prices have gone up by 12% still with single-earners only needing to spend 17.14% of their income in order to live alone.
To read the full report, visit www.renthop.com
