NYC Rents Rising Twice As Fast As Wages, Except for Wealthiest, Study Finds
Compounding the city’s affordability crisis: rents in the city rose twice as fast as wages, according to the analysis, which compared the StreetEasy Rent Index with wage data from the city’s Department of Labor. While median rents increased 3.9 percent a year since 2010, wages increased by 1.8 percent over the same period. Those working in the city’s lowest wage jobs were hit hardest. Low-wage earners — those in the bottom 20 percent of the workforce, which represent a little
