New Yorkers Pay the Highest ‘Singles Tax’ within the U.S.







(Bloomberg)—It’s costly to be single in New York Metropolis.

Whereas the unattached could save on the prices of an costly Valentine’s Day date, they’re paying a a lot increased “singles tax” to reside by themselves, in accordance with actual property agency Zillow. New York renters residing alone in one-bedroom flats are forking over $19,500 extra a 12 months than {couples} who reside collectively, Zillow knowledge 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 annually for a median one-bedroom condo, in comparison with these splitting lease on the identical unit with a companion.

Between them, companions who reside collectively in one of the costly cities on the planet will save a mean of $39,000 a 12 months.

Singles with a one-bedroom all to themselves in California’s dear 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 reside as they please, “all that freedom comes with a value,” stated Amanda Pendleton, Zillow’s dwelling traits knowledgeable.

“Though lease costs are beginning to cool, they’re nonetheless considerably increased than they have been a 12 months in the past,” Pendleton stated. “Renters contemplating going solo this 12 months should determine how invaluable residing alone is to them, and if the fee is price it.”

Nationally, singles pay practically $7,000 further per 12 months for a median one-bedroom condo.

To contact the creator of this story: Paulina Cachero in New York at [email protected]

© 2023 Bloomberg L.P.


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