New York is the largest city in the United States, and he has a huge real estate market. Around town the rent rises to historic levels, the average apartment in Manhattan costs over $3000 per month. Only San Francisco can boast a higher average rents.
At the same time, tens of thousands of new Yorkers have to sleep on the streets and shelters.
The housing market in new York, there are many things that will make you think twice about moving to this city.
Here are nine facts that will make you glad that you don’t gebete in this city
1 . The average people of new York give 82% of their salary for rent
Rents in new York rose to a record high . According to a report by StreetEasy Manhattan Rent Index, rents in Manhattan reached a record level of $3 217 dollars in the first three months of 2019. The rent for the entire year is $38 604 that more than 75% of the average annual salary in the United States in the amount of $ 46 460.
2 . Tenants in new York more than Los Angeles
New York- the most populous city in the United States, and the majority of residents pay for the rental and not buy your property.
According to the Department of urban planning of the city of new York, nearly two-thirds of new Yorkers live in rented apartments. Only in new York the number of people living in rented accommodation more than two times higher than the average for the country. Two-thirds of the 8.5 million inhabitants of new York still more than 4 million residents of Los Angeles, the second largest city of America.
3. Yankee stadium could not accommodate all new Yorkers living in shelters for the homeless
According to the report, the average number of people who slept in city shelters reached a record high of 64,000 in January 2019. This is 17,000 more than the capacity of Yankee stadium, which can accommodate 47 399 people .
According to forecasts, the number of homeless people seeking refuge in the city by 2022 will continue to grow to more than 65,000.
4. In Manhattan real estate currently can expect a buyer in about 4 months
Although the new York real estate market is notoriously competitive, at home in Manhattan actually stay on the market longer than expected.
According to StreetEasy Market Reports in all five boroughs of new Yorkers trying to sell their homes face a longer waiting time to eventually sell it.
5. Even in the cheapest area of Manhattan average rent is over $1600
The least expensive rents in Manhattan can be found in the heart of Inwood. But even there, according to City Realty, the residents are still paying $1 623 per month.
In the neighbouring district of Washington heights tenants can find the Studio in an average 1 669 dollars, making it the second most expensive district.
6. Rents declined in only one part of the city
According to market reports StreetEasy, in the first quarter of 2018, rents fell in only one district. It’s North Brooklyn.
Rents in the market fell to $ 3061, which is 0.5% less than in the previous quarter. All because of a partial subway stop. However, they can rise again, if metro will operate again at full power.
7. Less than a quarter of housing units in Brooklyn offer a discount
New York homeowners have superiority, and they are less inclined to offer discounts to prospective tenants.
8. The percentage of homes for sale grew by 11.7%
According to StreetEasy, the total number of homes for sale in Manhattan, increased by 11.7% compared to last year. The proposal has grown throughout the district, the Upper Manhattan received the largest relative proportion of new homes at 18.4%.
9. More than 1 million new Yorkers live below the poverty line
In 2017, NY1 reported that 1.5 million new Yorkers live below the poverty line.
In the poorest districts of new York, many of which are in the Bronx, the proportion of households who only 8.8% , compared with 50% for the rest of the city.