Savills: Average rental cost for typical employee of IT or financial services firm in New York City of USD114,208 p.a.


In its recently published report ‘12 Cities: Occupying and investing in world city real estate’, Savills note that, for the typical employee of a digital start-up or hedge fund, the average annual housing rental cost in New York City is USD114,208, or 28.4% more than in 2008. The rental cost is currently equivalent to 1.5 times the city’s overall GDP per capita of USD74,436 per annum. Across the 12 cities surveyed, the average annual rent has risen by 9.3% since 2008 to USD74,946, which is 1.4 times overall per capita GDP of USD55,973.

Source : October 2015/Savills/New York City/RES