NYC Is Scarily Close To Being The Most Expensive City To Live In The U.S.

Rob Grams Rob Grams

NYC Is Scarily Close To Being The Most Expensive City To Live In The U.S.

We get it, being the 2nd most expensive city in the country isn’t news to any of you, but what will shock you is how close we are to being first.

We all love NYC, that’s without question, but as the relentless march of gentrification sweeps our city and a homeless crisis that is affecting the cities most vulnerable, we’re left asking how much worse can it really get?

In a new study by Nested, NYC has taken in second place in their list of U.S. cities with the highest average rent. We know what you’re thinking, “in other news, water is wet.” The real shock here is how close we are to taking first.

The average rent (monthly) for a single person in NYC is $1,994, only $83 away from San Francisco ($2,077). Below NYC, in third place, is Boston at $1,721.14 average rent, a full $273 cheaper that NYC.

Nested estimate that a single person needs to earn an average of $82,511.17 a year to survive in the city. What about San Franciscans? They need  $85,985.38, a difference of, 3.4k. That pales in significance between the over 11k difference between Nyers And Bostonians.


Check out the table below for more details:

# City Rental Cost Per Sq. Ft. Monthly Rental for a Single Person Annual Income Needed for Single Person Monthly Rental for a Family Annual Income Needed for Family
1 San Francisco, CA $4.95 $2,077.96 $85,985.38 $3,942.82 $163,151.17
2 New York City, NY $4.75 $1,994.00 $82,511.17 $3,783.51 $156,559.03
3 Boston, MA $4.10 $1,721.14 $71,220.00 $3,265.77 $135,135.31
4 Washington, D.C. $3.33 $1,397.90 $57,670.76 $2,652.44 $109,756.14
5 Seattle, WA $3.07 $1,288.76 $53,328.00 $2,445.34 $101,186.48
6 Los Angeles, CA $2.86 $1,200.60 $49,680.41 $2,278.07 $94,264.97
7 Miami, FL $2.84 $1,192.20 $49,332.83 $2,262.14 $93,605.79
8 Chicago, IL $2.49 $1,045.28 $43,252.97 $1,983.36 $82,070.07
9 Houston, TX $1.49 $625.49 $25,882.34 $1,186.83 $49,110.21
10 Detroit, MI $1.09 $457.57 $18,933.96 $868.22 $35,926.34

Featured image source [flickr | kmccaul]

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