Housing accounts for about 37% of the average American's budget.

 

The median gross income for households in New York City is $53,373 a year, or $4,448 a month. The median rent for the city is $1,255 a month.

 

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In New York City, a household making less than $4,183 a month would be considered overburdened when renting an apartment at or above the median rent. 51.36% of households who rent are overburdened in New York City.