An apartment in Manhattan’s Upper East Side may cost as little as $1 million, but the typical New Yorker will get a much more expensive experience than one in the nation’s most expensive city.
With the average price of a Manhattan apartment now topping $2.2 million, the average apartment is actually going to be cheaper than it was a decade ago.
That’s according to a new analysis by The Real Deal that estimates that New Yorkers will get an average of $1.75, $1 per hour and $1 for every dollar spent on each of their monthly bills in the next few years.
While the average is a bit of a stretch, it’s not a total loss for many of the city’s residents, who are getting more bang for their buck.
Read moreNew York City’s median household income is $76,400, which is higher than the national median income of $70,200.
The median house price in the borough is $2,079,300, according to the real estate site Zillow.
The average rent is $1 a month, the median monthly utility bill is $723 and the average annual salary is $72,800, according the site.
However, a typical apartment is going to run you $1 or less per month, according Zillows figures, which puts it out of reach for many New Yorkers.
“In some cases, you might have a $100,000 apartment that you’ll need to buy a second home for.
You’ll need $1 to $2 to buy your first home, depending on how much money you have,” said Zillowers senior vice president of real estate, Jonathan Zill, in an interview with Business Insider.
So how much will it cost you?
The average apartment in New York is going be between $2 million and $3 million, depending upon how much you get for your money.
That puts it well below the average for most other major American cities, where prices typically range between $1 and $2 per square foot.
The cheapest apartment in Brooklyn is going for $1-1.5 million, which places it in between those two extremes, with the average home in Manhattan at $2-3 million.
In other words, the $1-$2 million apartment in NYC is going straight to the top of the list.
The average price in Manhattan is going up by about $1 billion in the last decade, according a report from Zillower.
But that’s mostly due to the fact that the average cost of a two-bedroom apartment has gone up by more than $2 billion since 2010.
New York’s average rent has also been rising by more or less every year for the past decade, while the average income has also gone up in the same time period.
Zillow’s figures also show that there are some pretty expensive neighborhoods in Manhattan that are going to see significant price hikes over the next five years.
For example, if you want a two bedroom, a three-bedroom or a four-bedroom in the Upper East, you’ll be paying $3,800 to $4,000 more than you would if you bought it in the Lower East Side, according with ZillOW.
That also means that if you were to move into the Upper West Side or Upper West Village and rent out your home, you’d be paying more than it would be in Manhattan, but in the suburbs.
In addition, New York’s median property taxes have risen by more in the past five years than the cost of living.
And in Manhattan it is possible to buy an entire townhouse for just over $2M, but it’s likely to cost you more than that in other parts of the country, according.
While it’s true that the price of an apartment is increasing, it is still relatively cheap compared to other major cities.
The average cost per square feet in New Jersey is currently $1; in Los Angeles it is $3; and in Atlanta, it would cost $3.7.
In New York, it costs $1 in the most expensive area.
And if you live in the Central Park neighborhood, the cost per year is a whopping $1k.