The Real Deal New York

New York City is second most expensive place to rent

San Francisco topped the list

New York

New York City is (almost) the most expensive place in the world to live.

A new study found that a single person typically pays $1,994 per month for a small studio in the city and needs to make at least $82,000 a year to afford it, the Wall Street Journal reported. New York is second only to San Francisco, which has a slightly higher — by 4 percent — typical rent. Of course, New York rents can go well above this “typical rate.” Median rents for studios in Manhattan are roughly $3,000 a month.

London-based real estate brokerage, Nested, ranked 72 major cities. Boston was the third most expensive on the list, followed by Hong Kong, Dubai, Singapore and Washington, D.C.

A family of four could expect to pay $3,784 a month in New York, and would need to earn  more than $156,000. [WSJ]Kathryn Brenzel