NEW YORK — The rent on a New York City apartment was up nearly 50% in the past year, according to a former tenant who had been living in a three-bedroom apartment for two years and was living paycheck to paycheck.
But the rent for a four-bedroom condo in Manhattan is up $10,000 a month, a move that the woman said she was forced to make when her rent for her two-bedroom unit went up in the fall of 2015, a decision she said was based on the rising cost of living.
Her rent is about $3,500 a month.
The condo has an attached garage and laundry.
She said she had to work twice as long to make ends meet, and her monthly rent was $3.50 more than her $1,600 a month rent.
She did not return calls seeking comment.
Rents in Manhattan have soared over the past decade, with the median rent in October rising more than 20% to $1.6 million, according the Real Estate Board of New York.
Rents for homes in Manhattan, Brooklyn and Queens rose an average of 2.4% in each of the past five years, according an analysis of government data by Bloomberg News.
The city’s median rent for single-family homes is $1 to $2,200.
The median rent among units with two or more units is $2.75 to $3 per square foot, according government data.
The average price for a one-bedroom, two-unit apartment in Manhattan rose from $2 to $5,000, according research firm Zillow.
The average price of a one bedroom, two unit condo rose from about $2 million to about $4 million.
The rental market has been driven by rising housing costs.
New York, New Jersey, Connecticut, Massachusetts and New York are among the states with the highest rents, according a study by real estate firm CBRE that examined data from April through June of this year.