patch.com
Open in
urlscan Pro
151.101.66.133
Public Scan
URL:
https://patch.com/new-york/new-york-city/amp/31739644/136k-minimum-to-live-comfortably-in-nyc-new-study-finds
Submission: On May 03 via manual from US — Scanned from US
Submission: On May 03 via manual from US — Scanned from US
Form analysis
0 forms found in the DOMText Content
Sign up New York City, NY News Feed Events Local Businesses Classifieds Real Estate $136K MINIMUM TO LIVE ‘COMFORTABLY’ IN NYC, NEW STUDY FINDS SINGLE NEW YORKERS NEED TO MAKE AT LEAST $65 AN HOUR TO MAKE ENDS PLEASANTLY MEET, ACCORDING TO A CONSUMERAFFAIRS STUDY. By Matt Troutman, Patch Staff May 3, 2024 2:13 pm EDT People walk and jog near trees blooming by the .Jacqueline Kennedy Onassis Reservoir in Central Park on the first day of the spring season in New York City on Tuesday, March 19. (John Angelillo/UPI/Shutterstock) NEW YORK CITY — Want to live "comfortably" in New York City? That'll require you make at least $136,000 a year. Or at least that's according to a new Consumer Affairs study about the 15 largest U.S. cities' affordability. Subscribe "It'll come as no surprise that the Big Apple tops our list of major cities that take an outsized bite out of consumers' budgets," the study states. Here's what the study found New Yorkers or would-be city dwellers have to make to live comfortably in Gotham: * Income needed: $135,713 * Hourly wage needed: $65.25 * Median rent per month: $3,392.83 So, how did Consumer Affairs come to these thoroughly depressing numbers? The answer comes down to a combination of rent and federal Housing and Urban Development, or HUD, guidelines for affordability. Affordability for HUD means spending no more than 30 percent of income on rent or mortgage payment. And when New York City's typical monthly rent is measured at nearly $3,400 by Zillow, the affordability math comes out to roughly $136,000 a year in income. New York City may have topped the list, but other cities did come close. Boston required nearly as much income — $134,000 — to live comfortably, according to the study. Here are the other cities that require $100,000-plus salaries: Read the full study and see where other large U.S. cities rank here. Ad More from New York City, NY News | 2h NYPD Cop Shot Gun In Columbia Protest Crackdown, Police Say News | 21h Campus Protest 'Agitators' Remain Elusive, Despite Outsider Arrests News | 2h TD Five Boro Bike Tour 2024: Here's What You Need To Know See more on Patch > Sign up for free local newsletters and alerts for the New York City, NY Patch Patch.com is the nationwide leader in hyperlocal news. Visit Patch.com to find your town today. ©2024 Patch Media. All Rights Reserved