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Photo via Wikimedia Commons/ALT55
Photo via Wikimedia Commons/ALT55

A recent real estate study confirmed what many Queens residents already know to be true: New York City is an expensive place to rest your head.

A “Rental Affordability Index” report conducted by Nested named NYC the second most expensive city in the entire country to rent a place to live — bested only by San Francisco, CA, where the monthly rental cost for a single person averages just over $2,000. Additionally, when compared with 72 other major cities worldwide, New York City still takes the No. 2 slot.

According to the study, New Yorkers spend an average of $4.75 per square foot of rental space. The average monthly rent for a single person in NYC clocked in at $1,994, and the annual income needed to afford to rent a place on your own is over $82,000, according to the study. Additionally, the numbers nearly double when it comes to four-person families, who spend an average of $3,783.51 a month on rent and need to make at least $156,559 to afford this cost of renting.

Nested’s study is one in a series of recent real estate reports that paint an alarming picture of the cost of living for Queens residents. A study conducted late last year reported that the average person in Queens has to pay a whopping 83.7 percent of their income to be able to buy median housing throughout the borough.

Additionally, pricing in many Queens neighborhoods fall well above Nested’s reported average, according to other findings. A study by PropertyShark placed a total of 12 Queens neighborhoods on a list of the top 50 priciest in New York City for 2016. Though the list was dominated by expensive Manhattan locales, Queens’ high-priced Forest Hills Gardens made the top 10. Also coming in on the list were neighborhoods of Flushing, Long Island City and Whitestone.

To view the full list of the top 10 most expensive cities to rent in the country, click here.

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