With the median asking rent in Manhattan around $4,000, the minimum income to qualify for a median apartment is $160,000.
If an applicant doesn’t meet this requirement, they need to find a guarantor who makes at least 80 times the rent to cosign their lease.
“When I first moved into this apartment, it was $1,882 a month and I was making $65,000,” Annan says. “I was very privileged enough to afford that rent requirement. But because it wasn't 40 times that, I needed a guarantor.” She says it was something that was embarrassing to deal with as a 29-year-old with a master's degree. “I proved I can make it on my own. But here is a roadblock that doesn't make sense and seems to be very classist to push certain people out,” she says.BusinessGOP Megadonor Peter Thiel Signals He Is Done Helping Ohio Senate Hopeful J.D. Vance, Will Fundraise for Arizona's Blake Masters
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