1327 ET - New York City is posting its most expensive rental market since Realtor.com says it began tracking the metric in 2019, and it's hitting recent college graduates hard. The median asking rent climbed to $3,707 in 2Q, up $164, or 4.6%, year-over-year. A studio apartment would consume 38.2% of a typical Computer Science graduate's starting NYC salary, and 45.2% of a Business graduate's, Realtor.com says. Nationally, the math is far less punishing for new grads. A typical studio across the 50 largest U.S. metros would consume just 20.9% of a Computer Science graduate's salary and 24.8% of a Business graduate's, roughly half the share required in NYC, Realtor.com says.
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