In order to afford a median-priced home in New York City, an annual income of $211,970 is now required, reflecting a minor improvement from last year's $222,595.
The median asking price for New York homes is $1.05 million, requiring a 20 percent down payment of about $210,000 just to consider home ownership.
Only 15 percent of households in NYC earn above $211,000, meaning most residents are excluded from affording homes, which aligns primarily with well-paid professionals.
The income needed to afford even the cheapest homes in New York is still higher than many professions such as dental hygienists and teachers can muster.
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