(Bloomberg)—It’s costly to be single in New York Metropolis.
Whereas the unattached might save on the prices of an costly Valentine’s Day date, they’re paying a a lot increased “singles tax” to dwell by themselves, based on actual property agency Zillow. New York renters residing alone in one-bedroom residences are forking over $19,500 extra a yr than {couples} who dwell collectively, Zillow information present. In Manhattan, the annual singles tax rises to a whopping $24,000.
Zillow’s singles tax relies on how a lot a renter residing alone should pay every year for a median one-bedroom condo, in comparison with these splitting hire on the identical unit with a accomplice.
Between them, companions who dwell collectively in one of the costly cities on this planet will save a median of $39,000 a yr.
Singles with a one-bedroom all to themselves in California’s expensive Bay Space additionally pay a major premium. These in San Francisco face a singles tax of $14,114, the second highest of any metropolis, adopted by San Jose at $12,401.
Whereas residing alone permits renters to dwell as they please, “all that freedom comes with a price,” mentioned Amanda Pendleton, Zillow’s residence traits professional.
“Regardless that hire costs are beginning to cool, they’re nonetheless considerably increased than they have been a yr in the past,” Pendleton mentioned. “Renters contemplating going solo this yr should determine how invaluable residing alone is to them, and if the associated fee is value it.”
Nationally, singles pay almost $7,000 additional per yr for a median one-bedroom condo.
To contact the creator of this story: Paulina Cachero in New York at [email protected]
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