Manhattan is one of the hardest places to get an apartment — no surprises there — but the borough has hit a new level of unattainable with this recent statistic: Manhattan has the seventh highest rejection rate for would-be renters in the entire country.
Though about 75 percent of applicants — once they find an apartment — get approved, almost a quarter are rejected, and about $23,000 in annual income separate them: the average renter approved in Manhattan is earning about $63,000 per year compared to the average rejected applicant earning about $40,000, according to a recent study by RENTCafé.
The study noted income wasn’t the sole factor most of the time; paying rent on time, a history of accounts in default or collection, or involvement in a case before civil courts all weighed heavily on landlords’ decision to accept or reject a prospective tenant.
[RENTCafé] — E.K. Hudson