Cost of housing in NYC

The Times says “median asking rent in Manhattan is $6,000” for a two-bedroom flat.  If this is right, you’d need 6*12/.33 = $218,000 income to afford it, assuming ~1/3 of your income goes on rent, or $288,000 if you spent 1/4 on rent, the benchmark I used when I was young to figure affordability.

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