How to find out if you are overpaying for housing in New York: there is a special tool

Housing in the Big Apple is one of the most expensive in the US. However, sometimes too high a price for it is not a market condition, but an unreasonable decision by a homeowner who wants to cash in on an inexperienced tenant. To check how your rent compares to what other residents of your street are paying for it, New York City has created a special calculator. The publication told about his work Time-out.

Rent calculation tool from Open Igloo pretty easy to use.

You only need to do the following: indicate the area in which you live; the number of rooms in your apartment and your current rent. The tool will then tell you how much your rent is higher or lower than similar apartments in your area. It will also show you the average rental price in that part of the city.

All calculations are based on price data specified in new leases signed in 2020.

On the subject: If you do not have enough money to rent housing in New York, the government can pay some of it: program conditions

For example, if you want to rent a studio in Battery Park City, you should know that the average price for an apartment of this size in the area is $3.

Large XNUMX-bedroom apartment on the Upper West Side currently worth $8 721 per month, while a similar dwelling on the other side of the city - in the Upper East Side - will cost an average of $9 333.

Rent calculation tool from Open Igloo is available here to register:. Play around with it, click on different areas - you will learn a lot of useful information about rental prices.