1. Some NYC residents are shelling out millions to live in basements, where they can get more space for their money.
"As prices continue to decline in the luxury market, developers are keen on maximizing every square foot, including below-grade space, while buyers seek out bargains in a supply-heavy market," reported Stefanos Chen for The New York Times.
One buyer told Chen she bought a 2,100-square-foot, two-bedroom underground duplex on the Upper West Side for $2.3 million — twice the size of her place in Williamsburg, Brooklyn. The smaller apartment above her was listed for roughly $1 million more, she said.
2. New York City is the world's only city with more than 100 billionaires.
3. The typical rent in New York is $3,400 — twice the typical national rent.
4. The monthly cost to park a car long-term in New York City is over $606 — more than the median rent in some US cities.
It costs $606.37 a month to park a car long-term in New York City, according to SmartAsset, citing a report from Parkopedia.
That's more than the median rent in many US cities, like San Joaquin, California ($539), or Monte Vista, Colorado ($561).
next slide will load in 15 secondsSkip AdSkip Ad5. The typical price of homes listed in New York City is $1.5 million — more than five times the typical national price of homes listed.
The national median price of homes listed is $289,900, according to Zillow.
6. To live comfortably as a homeowner in New York City, residents need to earn $148,448. It takes the median US worker roughly three years to earn that much.
7. New York City has the most expensive home ever sold in the US, a $238 million penthouse.
Billionaire hedge-fund manager Ken Griffin purchased the three-floor, 23,000-square-foot penthouse in a skyscraper at 220 Central Park South, reported Business Insider's Katie Warren, citing The Wall Street Journal.
New York City penthouses are so expensive that they're not selling — so real estate companies are splitting them into smaller, cheaper units to get them off the market, Warren reported.
8. New York City is home to one of the top five richest ZIP codes in the country —10007. The average income there is $879,000.
The ZIP code is home to southern Tribeca, according to Bloomberg's ranking of America's richest ZIP codes. The average annual income in the ZIP code is $879,000, according to 2016 tax returns.
According to Zillow, the median price of listed homes in the area is $3.8 million. But new Tribeca developments are known for even pricier apartments — penthouses in 30 Park Place, which has Four Seasons private residences, are selling for about $30 million.
9. A $75,000 salary in New York City is equivalent to a $195,362 salary in Austin, Texas.
next slide will load in 15 secondsSkip AdSkip Ad10. A single person in New York City can expect to spend an annual total of $51,323 on necessities — more than what the median US worker earns in one year.
That's $4,277 a month, according to the Economic Policy Institute. Costs in this calculation include housing, food, transportation, healthcare, other necessities, and taxes, not including savings or discretionary spending.
11. A family of four in New York City can expect to spend $124,129 a year on necessities — that's $10,344 a month.
12. Private preschools and kindergartens in New York City can cost up to $50,000 a year — more than yearly tuition at some Ivy League universities.
Manhattan K-12 schools Horace Mann, Collegiate, and Trinity all have yearly tuition that exceeds $50,000. That's more than the yearly tuitions at Cornell, Harvard, and Princeton, which cost less than $50,000 without room and board, reported Suzanne Woolley and Katya Kazakina for Bloomberg.
Hedge-fund managers, celebrities, and tech millionaires send their kids to Avenues: The World School, which costs $56,400 a year, reported Business Insider's Katie Warren.
13. The cost of living is so high that multimillionaire Wall Street bankers are fleeing the city for more affordable housing.