One in every 25 New Yorkers walking down these streets is a millionaire. Now, those are some pretty decent odds. It's realistic to say that you might run into a millionaire while walking down the streets in New York City. But, on the other hand, one in every five New Yorkers walking down these same streets live below the national poverty line. New York is a city of extremes, and living here is not for everyone. But, if you're interested in seeing what it's like to rent an apartment on a realistic budget, then this video is for you. Now, I've shown you some of the most expensive places to rent and buy in this city. But, today, we're going to be exploring some different options: the most affordable neighborhoods in the city, living situations, and more. So, you can learn about what it takes to live in New York City. Your biggest expense living in the city is going to be rent. Apartments in the city go fast. Leases can get signed within minutes of seeing an apartment by applying via the internet on the spot. As a rule of thumb, don't spend more than 30 percent of your annual income on rent. New York is an expensive city, but the annual income is also higher than the national average. Let's check out the numbers. Manhattan's average annual household income is just about sixty-seven thousand dollars per year, while Brooklyn is a mere 45,000. Queens comes in at fifty-four thousand per year. New York's most suburban borough, Staten Island, is also its richest with a median household income of 70,000 per year. And finally, the Bronx comes in at 33,000 per year. You are probably thinking to yourself, "That is way more than I make. How could I possibly afford to...
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