What is the Real Price to Live in New York? Is it feasible?

It’s no secret that it’s expensive to live in New York. According to a March 2019 report from Apartment List, the median rent for a two bedroom apartment is $2,499 in New York City. Studio and one bedroom apartments come in at $1,889 and $2,098 a month, respectively. With the national median rent for studios, one bedrooms and two bedrooms at $827, $947 and $1,175, respectively, the $1,062 difference for a studio apartment, a $1,151 deviation for a one bedroom apartment and, lastly, a $1,324 split for a two bedroom apartment is staggering.

The rent is just the first part of the expense equation. You have to factor in utilities, broker’s fees, fees for processing, large deposits (usually first and last month’s rent) and stringent background checks. Then, there is the added cost of moving your furniture, stocking the apartment – the list goes on and on.

Then there is the next big hurdle: qualifying to be considered in the rental game. Qualifying for eligibility to rent an apartment is a behemoth. Most landlords in New York City require your gross annual income (before taxes) be 40 times your monthly rent. So, for example, if you want to rent a studio for $1,500 a month, you must prove that you make at least $60,000 a year. How is that possible if you are new to the workforce, piloting a startup, striking out on your own as an artist? So what do we do?

The digital economy has changed the way we work. We’ve gone global, we are mobile – we change jobs we change projects, we travel and look for temporary solutions to housing. We want to take advantage of the geo arbitrage opportunities that await us and the excitement and creative energy that is stoked by travel, by working remotely, by collaborating with people we wouldn’t usually encounter in our daily lives. SharedEasy meets you in the digital space both in booking as well as with the living experience.

Taking our cues from Airbnb, Uber, WeWork, Lyft, ZipCar and other harbingers of the sharing economy, we offer a solution to hassle free.
It’s a new landscape for the rental experience – especially in expensive cities like New York. With the option of coliving, there are solutions. We take care of the house and we leave you to your adventures, your goals and your community.