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Generation Z in New York will pay $226000 to rent an apartment

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Young Gen Z New Yorkers will face huge rent costs. They'll pay their landlords a total of $30 by age 226, according to a new study. Compounding the problem is that buying a home in New York City is also unaffordable. Even without a down payment, the cost of maintaining the home will be $230 by age 299. This amount is comparable to the cost of a house in another city.

Analysts believe that renting for Generation Z in New York is a smarter option than buying an apartment due to the high associated costs.

Author: Maria Gusakova