Study: Brooklynites Bearing Heavy Rent Burden
In what is unlikely to generate more than a “No Duh!” response from most New Yorkers, a study conducted by Anthony Weiner’s office has found that, surprise, surprise, many Brooklynites spend a high proportion of their paychecks on rent. Overall, 30% of Brooklynites are spending more than half of their income on rent. (The Daily…
In what is unlikely to generate more than a “No Duh!” response from most New Yorkers, a study conducted by Anthony Weiner’s office has found that, surprise, surprise, many Brooklynites spend a high proportion of their paychecks on rent. Overall, 30% of Brooklynites are spending more than half of their income on rent. (The Daily News article article fails to mention whether “income” refers to pre-tax income or take-home pay. It also does not make clear whether it’s 30% of all Brooklynites or 30% of all Brooklynites who rent.) One guy in East New York makes $1,300 a month and coughs up $940 in rent! Let’s do a study of Brownstoner readers who rent:
Photo by Bryan Collins
11.24 – they won’t answer honestly, too much ego invested in what financial geniuses they are.
I was gonna say a entry level condo is still going to be around $4000 a month at todays rates for the typical first time buyer.
And I don’t find it too helpful talking about fair rent without square footage and configuration figures.
I grow my own food and kill my own livestock.
all you bitches buying food are idiots
Brownstoner –
This is a great survey.
Please do the same survey for HOMEOWNERS – i.e.,
What Percentage of Your After-tax Income Do You Spend on Home Carrying Costs (= mortgage principal + interest + maintenance/cc + taxes + insurance + estimated interest foregone on downpayment). Would be fascinating.
As a homeowner I’d like to point out that no-one “throws away” money on rent any more than they throw away money on buying food. Housing, like food, is a necessities. Its a dumb thing to say.
One of the few times I have to agree with What
What – you are confusing the defintion of “entitlement” with the definition of “sense of entitlement” (the former having the implication of justified, the latter having the scent of unjustified).
These types of surveys are notoriously inaccurate. They always produce at least a few people who claim to pay over 100% of their income on rent, so without some independent verification of income and expenses, I call bullshit on that 30% figure.
how do you buy a condo if you dont have 20k to put down and you cant get a loan?
dur.
also I pay $800 a month and make around $1650 a month. I live on the park slope/prospect heights line.