In 2023, a two-bedroom apartment at a fair market rent in New York HMFA would require renters to earn at least 47.13 U.S. dollars per hour making it the most expensive metropolitan area to rent in New York. The Nassau-Suffolk HMFA ranked second most expensive with a minimum hourly wage requirement of 44.17 U.S. dollars for a two-bedroom apartment. On the other hand, Binghamton MSA and Utica-Rome MSA were most affordable requiring renters to earn less than 19 U.S. dollars to afford renting a two-bedroom apartment. The monthly fair market rent required for a two-bedroom apartment in New York during this period was between 950 and 2,500 U.S. dollars depending on the metropolitan area.
Hourly wages needed to afford a two-bedroom apartment in New York, United States from 2021 to 2023, by metro
(in U.S. dollars)
Characteristic
2021
2022
2023
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NLIHC. (June 14, 2023). Hourly wages needed to afford a two-bedroom apartment in New York, United States from 2021 to 2023, by metro (in U.S. dollars) [Graph]. In Statista. Retrieved June 18, 2024, from https://www.statista.com/statistics/1256708/us-two-bedroom-housing-wage-ny-by-metro/
NLIHC. "Hourly wages needed to afford a two-bedroom apartment in New York, United States from 2021 to 2023, by metro (in U.S. dollars)." Chart. June 14, 2023. Statista. Accessed June 18, 2024. https://www.statista.com/statistics/1256708/us-two-bedroom-housing-wage-ny-by-metro/
NLIHC. (2023). Hourly wages needed to afford a two-bedroom apartment in New York, United States from 2021 to 2023, by metro (in U.S. dollars). Statista. Statista Inc.. Accessed: June 18, 2024. https://www.statista.com/statistics/1256708/us-two-bedroom-housing-wage-ny-by-metro/
NLIHC. "Hourly Wages Needed to Afford a Two-bedroom Apartment in New York, United States from 2021 to 2023, by Metro (in U.S. Dollars)." Statista, Statista Inc., 14 Jun 2023, https://www.statista.com/statistics/1256708/us-two-bedroom-housing-wage-ny-by-metro/
NLIHC, Hourly wages needed to afford a two-bedroom apartment in New York, United States from 2021 to 2023, by metro (in U.S. dollars) Statista, https://www.statista.com/statistics/1256708/us-two-bedroom-housing-wage-ny-by-metro/ (last visited June 18, 2024)
Hourly wages needed to afford a two-bedroom apartment in New York, United States from 2021 to 2023, by metro (in U.S. dollars) [Graph], NLIHC, June 14, 2023. [Online]. Available: https://www.statista.com/statistics/1256708/us-two-bedroom-housing-wage-ny-by-metro/