Do you ever wonder why everything in NYC (specifically Manhattan) is so expensive? Food, stuffed animals, rents for houses and apartments are just so overpriced. Well, in my opinion, everything in NYC is so expensive because of rent, there isn’t much space, and it’s so convenient.
One reason why NYC is so expensive is because the rent here is so high. For an example, the average rent of an apartment in Manhattan is $3,667. In New Jersey, the average rent for a 1-bedroom apartment is $1,366. Big difference, people! The rent is so expensive because there are so many people, and there is limited space. The landlords make the prices go higher, so they can earn more money. Since there are so many people that want it, they rent the apartment. This is what I think. Since so many people want to live in NYC, landlords take advantage of this and raise the rent. People want to make money.
Another reason why everything in NYC is so expensive is because there isn’t that much space. For example, Manhattan is only 22.6 square miles, and New Jersey is 8,722 ml. There’s another huge difference here. Remember, Manhattan has only limited space. So, it’s harder to find space for new buildings. The construction price would be high because of limited space. So owners who spent money on the building want to get the money back since the construction price would be high.
The last reason why everything in NYC is so expensive is because it’s really convenient to live in NYC (specifically Manhattan). For example, you can just walk to go from place to place. Also, you’re usually near bus and train stops. So if you work somewhere outside of your borough, take the train or bus to work. Since it’s so convenient to get from place to place, this is making it more expensive because (I know I already said this example but) since building/house owners want to make a lot of money and people want to live in convenient places, those owners take advantage of these people and raise the rent to make money.
In conclusion, in my opinion, everything in New York City is expensive because the rent is really high, there isn’t a lot of space, and it’s really convenient. I think we can make Manhattan buildings’ rents lower because some people aren’t that rich, but they want convenience. This topic is important to the community because now people will know that Manhattan is so expensive and why it’s so expensive. Duh.
Works Cited
https://www.businessinsider.com/manhattan-rent-by-neighborhood-ranked-from-lowest-to-highest-2018-5
https://smartasset.com/mortgage/the-cost-of-living-in-new-jersey