Community Corner

The Rent Really is Too Damn High

Average New York City apartment costs more per month than ever.

This article was written by Matthew Hampton.

Perennial mayoral/gubernatorial/best Halloween costume candidate Jimmy McMillan has warned us again and again and we just don't take him seriously. 

According to a real estate investigations firm cited in the Wall Street Journal (subscription), the average rent for a New York City apartment last quarter was more than $3,000. 
To put that in perspective, compare it to the average apartment across the United States: just over $1,000. 

That $3,000, by the way, represents the high-water mark for living in the city. It's never been more expensive to hang your hat in this town. 

You're probably not getting much for the money, either. It's a real haves and have-nots situation across New York City.

The Huffington Post wrote on Tuesday that the income disparity levels in the five boroughs compare to some nations in sub-Saharan Africa.

What do you think? Is living in New York City worth the premium? Or does the real estate bubble need to burst? Let us know what you think in the comments. 


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