The Bronx, not Manhattan, is actually the country’s least affordable county: REPORT

Residents pay 68 percent of their income on rent

TRD New York /
Dec.December 27, 2014 04:24 PM

Believe it or not, the Bronx, not Manhattan is the least affordable county in the country for renters, a new report shows.

Borough residents can expect to spend a whopping 68 percent of their earnings on rent — or almost $2,000 a month for a three-bedroom apartment, according to a study cited by the New York Daily News.

The real estate company analyzed more than 500 U.S. counties, using rental data from the U.S. Department of Housing and Urban Development to compile the list, comparing the average fair market rent of a three-bedroom apartment and divided the annual median household income of each county, according to the Daily News.

The Bronx has an unemployment rate of 9.5 percent, and one of the lowest median incomes in the country — $34,388 with nearly 30 percent of the population living below the poverty line, according to the most recent U.S. Census statistics. [NYDN] Christopher Cameron

Related Articles


All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

1065-1075 Gerard Avenue in the Bronx 

Prana pays Related $36M in Bronx multifamily play

448 East 143rd Street in the Bronx (Credit: Google Maps)

Private developer’s NYCHA project in Mott Haven lands $79M in financing

From left: 305 East 47th Street and 286 River Avenue (Credit: Google Maps)

Here’s what the $10M-$30M NYC investment sales market looked like last week

Inwood has stayed affordable for a remarkably long time. That could soon change. (Credit: Wikipedia)

Inwood braces for gentrification

Rent reform is propelling a new wave of New York and California investors to Miami (Credit: iStock)

Rent reform in New York, California propels new wave of multifamily investors to Miami

Clockwise from top left: 162 West 13th Street, 325 Avenue Y in Brooklyn, 1281 Viele Avenue in the Bronx (Credit: Google Maps)

Here’s what the $10M-$30M NYC investment sales market looked like last week

Developer seeks $40M for Opportunity Zone site in downtown Newark