Saturday, December 27, 2014

Bronx renters can't afford to live there

From the Daily News:

THE BRONX is the least affordable county in the country for renters, a new report shows.

Tenants in the city’s northernmost borough can expect to spend a whopping 68% of their earnings on rent — or almost $2,000 a month for a three-bedroom apartment, according to a study.

The real estate company analyzed more than 500 U.S. counties, using rental data from the U.S. Department for Housing and Urban Development to compile the list.

It compared the average fair market rent of a three-bedroom apartment and divided the annual median household income of each county.


Anonymous said...

Based on the fact that incomes in the Bronx are so low, this seems fairly obvious. In most other boroughs (at least the parts that are easily accessible or nice to live in), 3BRs cost way more than $2,000/month. A household with 2 people working full time for minimum wage will never be able to afford these rents.

Anonymous said...

My friend moved into a 1 bedroom apartment on a 5 story walk up in the bronx for $900 bucks. After 2 years the rent stabilization lease kicked in and it went up 7.5% which brought it to about 970 bui the kicker is that there were unoccupied apartments in the building leasing for less than that. lol

Anonymous said...

If you're poor, you'll spend more of your earnings on housing. Duh. Thank you captain obvious.