If there's one thing New Yorkers can unite on, it's the unforgiving cost of living, which only getting harder to afford.
If your lease is up or if you're looking for an apartment in the city, here's a warning for you. The average monthly rent in New York City has jumped to a record-high of nearly $5,600."The rent is too damn high, not sustainable in this city," renter Paul Scalet said.
Renters in Hell's Kitchen could relate to the hike, in fact the average price there is nearly $4,400 per month. The aftermath of the pandemic coupled with inflation and rising interest rates continues to lash the rental and real estate market. One example: census data shows the population fell slightly by 5.3% from April 2020 to July 2022, when people were working from home during the pandemic and moved to other states with lower costs of living. The supply they left behind, which is technically still there, would normally translate into lower prices.
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