At this point we need both. If full time minimum wage can't afford an entry level studio apartments, then we're already in trouble.
For reference, that's $2100 or so of monthly take home pay for NYC's 16.50 minimum wage. Old wisdom would mean that this should make for $700 rental prices. But I'm sure few Gen Z are expecting rent to be 30% of income.
For reference, that's $2100 or so of monthly take home pay for NYC's 16.50 minimum wage. Old wisdom would mean that this should make for $700 rental prices. But I'm sure few Gen Z are expecting rent to be 30% of income.