Brief
New York City renters need $153,600 a year to afford a studio
The Economist’s index shows the cost of living in New York remains the highest in the US, while other major cities see more affordable rents.
By Felo News Desk · Published
According to The Economist’s Carrie Bradshaw Index, a solo renter in New York City would need to earn $153,600 a year before taxes to comfortably afford a typical studio apartment, which costs about $3,840 a month. The index assumes renters should spend no more than 30% of their gross income on housing. Nationwide, the index shows that the number of America’s 100 largest cities that are unaffordable for an average earner has fallen to 30, the lowest since the index began three years ago. The Economist notes that the US added 695,000 apartments in 2024 and 531,000 in 2025, a 40‑year record, which has helped ease rent pressure in many cities. However, the index also warns that new construction starts have fallen sharply from their 2022 level and are now at their lowest quarterly total since 2011, potentially limiting future supply. New York remains the most expensive city, with a typical studio costing about $3,840 a month, while cities such as Oklahoma City and Lexington, KY, have seen some of the biggest affordability gains.
Key facts
- A solo renter in New York City needs $153,600 a year before taxes to afford a typical studio (nypost.com)
- The typical studio costs about $3,840 a month (nypost.com)
- The Economist’s Carrie Bradshaw Index shows 30 of America’s 100 largest cities are unaffordable for solo renters (nypost.com)
- The US added 695,000 apartments in 2024 and 531,000 in 2025 (nypost.com)
- New construction starts are at their lowest quarterly total since 2011 (nypost.com)
Sources
- [1] nypost.com — originally reported as “Good news for American renters — unless you live in NYC, where you now need a $153K salary to afford a studio”
