Manhattan and Brooklyn are much poorer than you think.

Slate (01/09/2014)
  • Median rents in gentrified parts of Brooklyn and Manhattan near to slightly above $3,000 per month.
  • However, vast swathes of central, southern, and eastern Brooklyn are still poor and underdeveloped.  How? Approximately half of all apartments in Brooklyn (306,000 units) and Manhattan (294,000 units) are rent controlled (50% less expensive).
  • Also, many New Yorkers (7%) live in subsidized housing and others bought apartments and row homes in the 1970s and 80s (before boom).