NYers Must Work Longest Hours To Make Rent, Report Shows

NEW YORK — New Yorkers get the least bang for their buck when it comes to making rent in the notoriously expensive state, a recent report shows.

The typical New Yorker has to work longer hours than residents of any other state to afford a one-bedroom home in the Empire State, according to the Business.org analysis of salaries and housing costs across the nation.

The report, published Sept. 16, compares median yearly wages with median rents to determine how many hours one must work to afford a one-bedroom apartment in each state and the District of Columbia.

A New Yorker making the state's median salary of $44,990 has to work 101.7 hours to pay the typical rent of $2,199, according to the report.

Only the District of Columbia has a higher median rent at $2,210, Business.org found. The Empire State's median annual wages are only the sixth-highest in the country despite its astronomical housing costs, the report shows.

Californians put in the second-most hours — 99.1 — to make their state's median rent of $2,022, according to the report.

New Yorkers could sacrifice urban conveniences for an easier life by moving to Wyoming, whose residents get the most out of their money, Business.org found. Workers in the state can put in just 33.6 hours at a median salary of $40,240 to make the typical rent of $650 a month, the report says.

Here are the top 10 states where one must work the hardest to afford housing, according to Business.org's report, which is based on housing cost data from Zillow.com and wage figures from the Bureau of Labor Statistics for May 2018. Read the full report here.

1. New York, 101.7 hours
2. California, 99.1 hours
3. Massachusetts, 85.5 hours
4. Florida, 84.5 hours
5. Hawaii, 84.2 hours
6. Washington, 80.4 hours
7. New Jersey, 79.7 hours
8. Virginia, 76.9 hours
9. Illinois, 75.8 hours
10. Georgia, 73.8 hours