A popular refrain now that we’re coming to the end of this garbage year is “Well maybe 2015 will be better.” You probably said that about 2014 in December 2013 and so on back into the days when you were in college. Well let us be the bearer of the first piece of garbage news for 2015: A new report from StreetEast is predicting that it will take 60% of your income to rent in Brooklyn. May as well just sleep through to 2016 except THAT WILL ALSO BE A GARBAGE YEAR.
StreetEasy looked into their crystal ball and is predicting that the median rent in Brooklyn will take 60% of the borough’s median income. That’s worse than Queens, the Bronx and even Manhattan, where it should run people 40% of their median income to rent, and way worse than Staten Island where it will require 30% of your median income to rent there.
Shit, Brooklyn’s median income is only $44,850/year, so we can only hope that you all manage to find yourselves pockets of extremely below market rentals. On the other hand, this is just a prediction, so maybe we’ll luck out and the global economy will collapse or Earth will be struck by a meteor or the Illuminati will decide that it’s time for Topeka to be the new cool place where artists are moving.
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I just went from 55% in Williamsburg to 24% in Jersey City...you know, that place thats closer to Manhattan & has more warehouses than Williamsburg? If you make under $100G and are spending over 35% on rent, quit being a dumbass and move. NJ has 3% sales tax too so everything costs way less too.
Why don't you move it Staten Island? It will be 16% of your salary......you know....that place that's a short boat trip from Manhattan?!
Williamsburg/Greenpoint and Park Slope are throwing this number WAY off. I live in a lovely building for 30% of my income a year.
@smrt dude Wow, really? Great! I think I'll move to Jersey! Great tip! One simple trick! Real estate devils hate smrt dude!