In Brooklyn, 31 percent of homeowners with a mortgage are spending 50 percent or more of their income on housing costs, the highest percentage in any large county in the state.
Welcome to my world! Fortunately, I am only spending about 23% of my gross pay on housing. (I'm presuming the article and the data it references are using "income" to mean gross pay
I was surprised at some of the stats quoted. Manhattan's median rent is still only $1,081. "ONLY???" you say. But ask most New Yorkers if they really believe that half of all apartments in Manhattan are rented for under $1,081. Ask them how many people they know who rent an apartment for under $1,081. Yes, of course they are out there, and it's not really a surprise that someone like myself, who mostly knows educated, middle-class professionals like myself, does not know many people who rent apartments at the lower end of the market. But still.