New York Renters Face Steep Salary Demands for Solo Living, While National Affordability Improves
A new index reveals that while most of the US is becoming more affordable for single renters, New York City still requires a $153,600 salary for a studio apartment.
Renters across much of the United States are finding it easier to afford living alone, with a significant decrease in the number of major cities considered unaffordable for average earners. However, New York City remains an outlier, demanding an annual income of $153,600 for a solo renter to comfortably afford a studio apartment.
The Economist's "Carrie Bradshaw Index," which names its affordability threshold after the "Sex and the City" character known for her solo Manhattan living, found that the typical studio rent in New York City stands at $3,840 per month. This figure, combined with the index's assumption that no more than 30% of gross income should be spent on housing, results in the high salary requirement.
Nationally, the picture is more optimistic. The number of the 100 largest U.S. cities deemed unaffordable for solo renters has fallen to 30, the lowest point since The Economist began tracking the index three years ago. Renters nationwide now need to earn approximately $150 less per month compared to the previous year.
This improvement is attributed to a substantial increase in apartment completions, with the U.S. adding a record 695,000 apartments in 2024 and another 531,000 in 2025. Alongside this surge in supply, softer demand has helped to moderate rent growth and encouraged landlords to offer incentives like free rent or waived fees.
Cities such as Oklahoma City and Lexington, Kentucky, have seen some of the most significant affordability gains, with 11 cities transitioning into affordable territory for solo renters. Despite this national trend, New York City continues to represent the high end of rental costs.
The index's namesake, Carrie Bradshaw, famously lived alone in an Upper East Side apartment on a columnist's salary, a scenario that has long sparked debate about its financial feasibility. The report also cautions that the current rental relief may be temporary, as new construction starts have declined significantly, potentially impacting future supply.
