New Yorkers spend nearly 60% of income on rent

New York - Rent will gobble up nearly 60% of New Yorkers' income in 2015 with the median cost of an apartment to rise to $2 700 a month, a real-estate website said.

Rent prices in the city grew at nearly twice the pace of income between 2000 and 2013, estimated StreetEasy, meaning that rent has taken up an increasingly larger share of New Yorkers' incomes.

The website estimated that the median asking rent in New York is expected to reach $2 700 in 2015, amounting to a staggering 58.4% of median income in the city.