$100,000/year is now the bare minimum to reside in Manhattan according to new analysis from Bloomberg, Zero Hedge reported.
“Solo renters in popular Brooklyn neighborhoods like Prospect Heights, Brooklyn Heights and Cobble Hill now need to be making at least $100,000 per year to live there, a dramatic change from just five years ago,” reported Tyler Durden at Zero Hedge. “The lower east side of Manhattan has also followed suit.”
These figures are not what New York residents are making. For example, the necessary gross income to live in Manhattan — $115,800 — is more than twice the city median of $57,782.
Some of the most "affordable" neighborhoods in the city like East Flatbush and Central Harlem required the biggest raises in salary over the last five years.
H/T: Zero Hedge