Solo renters need six-figure incomes in New York while other U.S. cities become more affordable
A new Economist index shows a single person must earn $153,600 annually to afford a studio in New York, whereas affordability is improving in most other large U.S. cities.
According to the latest “Carrie Bradshaw Index” from The Economist, a lone renter in New York City must earn $153,600 a year before taxes to afford a typical studio costing $3,840 monthly, based on the 30% income-to-rent guideline. Nationwide, the affordability outlook has improved: only 30 of the 100 largest U.S. cities are now classified as unaffordable, the lowest figure in the index’s three-year history. This shift follows a record-breaking addition of 695,000 apartments in 2024 and another 531,000 in 2025, which, together with reduced demand, has slowed rent growth and prompted landlords to offer incentives.
Smaller markets such as Oklahoma City and Lexington, Kentucky, have posted the strongest affordability gains, and eleven cities have moved into affordable territory. Nonetheless, the pace of new construction has fallen sharply from its 2022 peak, reaching the lowest quarterly total since 2011, which could limit future rental supply. For now, solo renters outside New York are seeing relief, but the city remains an outlier.
Why it matters
It highlights the growing rent burden in New York compared with easing housing costs elsewhere, affecting millions of renters.
In this story
