A new study reveals that single renters in New York City face a 'singles tax' of $20,100 annually, significantly higher than the national average of $7,562. With solo renters paying $40,200 yearly, the increase in rent over the past five years—24% overall and 22% for one-bedroom units—places an unfair financial burden on those living alone. Manhattan leads with a singles tax of $25,200, while all boroughs exceed the national average, highlighting the high cost of living for single individuals in NYC.
The term 'singles tax' highlights the financial burden for those living alone in NYC, with an annual excess rent cost of $20,100 over shared living.
Manhattan's singles tax tops $25,200, showing significant financial strain for single renters compared to those who can share the cost with partners or roommates.
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