Brooklyn is (STILL) too damn expensive!
Sit down for this one, guys. Living in New York City is expensive. Results from the Council for Community and Economic Research show that Brooklyn is the second most expensive US city, with Manhattan taking the numero uno spot. After analyzing living costs in 309 US cities, Texas cities held four of the lower 10 rankings, while Manhattan and Brooklyn were 123.9% and 85.5%, respectively, above the national average.
According to the Wall Street Journal,
Wages tend to be higher in areas that cost more. It might cost 61% extra to live in San Francisco, but the Bureau of Labor Statistics says workers in the San Jose-San Francisco-Oakland metro get paid 20% more.
So we make more income on average than a podunk town in Texas, but get to pay mortgage-sized rents for our shoebox apartments and groceries. Shit, no wonder Jay-Z won't move into the hood! And look at this graph! The cost of rent in Park Slope alone has skyrocketed in the past year.
Would you rather have a lower income and live in a cheaper city or more benjamins in a pricier neighborhood?
Reader Comments