This is how much having a roommate can save you in NYC

NYC building with several fire escapes.Mark
Venema/Shutterstock.com

Is having a roommate really worth it? Short answer: yes.

New York City tops many lists of the
most expensive cities in the country to rent
an apartment—and
with its soaring housing prices, it’s not surprising that many
city dwellers end up living with roommates to be able to cut costs.
In 2017, a study showed that
40 percent of adult renters
are living with a roommate; the
city has even created a program to help elderly renters share their
homes
.

But is having a roommate really worth it? A new report shows how
much New Yorkers and residents of other large cities in the country
can save by sharing a place. Short answer: yes.

The
report
, compiled by
SmartAsset
, shows in NYC, renters pay $2,915/month on average
for a one-bedroom and $3,717/month for a two-bedroom, and those who
split the rent with a roommate can save $1,056/month. That means
that those who share an apartment could save as much as $12,600 per
year each.

In San Francisco, which tops SmartAsset’s list, renters pay
$3,361/month for a one-bedroom and $4,529/month for a
two-bedroom—so splitting rent with a roommate can save them
$1,096.


SmartAsset
looked at data from the 50 largest cities in the
country and compared the cost of a one-bedroom apartment to half of
a two-bedroom in each city to find out how much a person could
save.

Cities that follow New York in saving you a lot of money by
living with a roommate include San Jose, CA; Boston; Oakland, CA;
Los Angeles; and San Diego. Cities that save you the
least—because renting a one-bedroom is not as expensive
there—include Detroit; Tucson, AZ; Wichita, KS; El Paso, TX; and
Oklahoma City.

Source: FS – NYC Real Estate
This is how much having a roommate can save you in NYC