Help Me Out on New York City Rents

I need some help here from New York City natives. Here are a few average rents for one-bedroom apartments recorded in a 1993 New York Times article:

At the Windsor Court, a 700-unit building at 155 East 31st Street, a one-bedroom unit that rented for…$1,650 in 1993, an 8 percent rise….At the Normandie Court at 225 East 95th Street, rents were…$1,465 in 1993….On the West Side, at 30 Lincoln Plaza, a large building near Lincoln Center, a one-bedroom rose…to $1,675.

Here’s a map from Zumper that alleges to show median rents for one-bedroom apartments today:

According to the Census Bureau, the median household income in the Northeast has increased from $33,747 in 1993 to about $68,000 today. Plugging in the 1993 and 2019 rent numbers produces this:

This is only three data points, and rents can vary within the boundaries of large neighborhoods, so this could be off by a few percentage points here and there. Generally speaking, however, it suggests that rent as a percentage of income has either stayed flat or maybe decreased a bit over the past 25 years in Manhattan.

Are there any problems with this data? Is Zumper full of shit? Is rent control too prevalent to provide an accurate picture of market rents? Or is this a reasonable snapshot of Manhattan apartments in 1993 and 2019?

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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