I was recently living in New Jersey and noticed the prices for studio apartments in the Big Apple had gone up dramatically over the past few years.
A studio apartment is a two bedroom apartment in a building with a private courtyard, which is the type of apartment that many people would consider a luxury.
While a studio has its advantages, the real-estate industry tends to overprice these apartments.
I wondered how the real estate industry would price a studio if they were to take a look at a home’s condition, and how would they figure out what the rent was going to be?
To do this, I took a look through several websites that list the average rent for studio properties in the city.
I looked at the median rent for each building, which ranges from $1,600 to $2,600.
To determine what the average rental was going the same way for each of these properties, I calculated how much they were going to cost for a month.
Here are the results: New York’s median rent is $2.95 per square foot.
The median rent per square meter is $1.36.
The average rent per day is $5.30.
So the average apartment in Manhattan will cost you $2 per square-foot.
That’s an increase of $1 per month.
So it’s not a great deal, but for the average tenant it is a small price increase.
But for a larger number of people, like myself, that will make a big difference.
This article originally appeared on CNN Money.