More Renters Go Homeless… as NYC Destroys Itself (Video)
In this 10 December 2024 video, New York City resident Cash Jordan focuses on a recent report which reveals the shocking freefall of NYC’s housing market, which is now forcing renters to make choices most Americans could never imagine.
As of December 2024, the average rent in New York City is $3,874 per month, which is 148% higher than the national average. Rents in New York City are still rising, and the city is one of the only major cities where rents are increasing annually.
Here are some other details about rents in New York City:
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Rent increase for rent stabilized apartments - For renewal leases beginning between October 1, 2024 and September 30, 2025, the rent increase for rent stabilized apartments and lofts is 2.75%.
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Cost of living - The average monthly cost of living for a single person in New York City, excluding rent, is $1,697.80. Adding the median rent of $3,400 brings the monthly cost to $5,097.80.
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Median asking rent - In August 2024, the median asking rent for apartments in Manhattan, Queens, the Bronx and Brooklyn was $3,425.
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Rent change over 5 years - In September 2024, the median asking rent for units with 0–2 bedrooms increased by 16.5% over the previous 5 years, while the median asking rent for units with 3 or more bedrooms increased by 1.5%.
https://youtu.be/cc1H6kQtEvU
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