$1,200 Viral Microstudio Reveals New York Living Conditions

The dream of living in New York makes some people willing to endure difficult conditions to afford such costs. The micro-studio, available for $1,200 rent, gained immense popularity resulting from its amenities, or lack thereof, which subsidized the worth.

On February 18, real estate agent Omer Labock shared a video on Instagram detailing a micro-studio in downtown Manhattan. The apartment is a particularly modest 115 square feet and provides no bathroom or kitchen. The tenant would need to share these basic features of the apartment with other tenants within the constructing.

Qualifying tenants will receive one window, a closet space and a shared bathroom at the top of the hall. There was no kitchen within the apartment. The apartment is positioned on the third floor of a discreet constructing.

The price, comparable to totally furnished and bigger apartments elsewhere, is indicative of the dire state of New York’s housing market. The nation’s most populous city is understood for exorbitant rent prices, comparable to Zillow’s estimate for the common cost of a studio is just over $3,000.

Rental prices are rising across the country and currently stand at 29.4% taller than before the pandemic, in line with NerdWallet. The publication also listed New York because the second-costliest rental market, with San Jose, California taking the highest spot.

The trend towards living alone, which has increased significantly lately, has also resulted in a rise in rental costs resulting from the growing demand for studios and one-bedroom apartments. Fortunately, prices are expected to say no resulting from an oversupply of accessible apartments, especially in cities where distant staff have fled seeking cheaper housing, comparable to Texas hotspots Austin and Dallas.

However, until this trend is felt across the country, renters must make do with living arrangements comparable to micro-studios as latest, reasonably priced living options.