One of the biggest expenses people face in their day to day is housing. Most Americans spend 37% of their budget on housing (while the recommended number is 30%), and in parts of the country including San Francisco and New York, that number goes even higher.
Which is why when news broke this week that the late actress Patricia O’Grady was paying a mere $28 a month for her NYC rental, a rent controlled two-bedroom apartment in one of New York City’s fanciest areas, Greenwich Village, well, our Penny Pincher heads just about exploded. Imagine the savings you could accumulate if you were only spending $28 per month?
O’Grady had lived in the pad since 1955 until she died a few weeks ago, and, granted the apartment didn’t have hot water, but it did have two-working fireplaces.
To show just how valuable the apartment is, according to friends of O’Grady a former landlord once tried to start a fire in the building to drive out tenants like her who were paying low rents.
The current landlord says he has plans to gut renovate the apartment and put it on the market for somewhere around $5,000 a month, per The New York Post.
Now, it seems almost unbelievable that someone was out there paying $28 for a NYC rental in one of the most prime locations, which got us wondering, how much is everyone else paying? That’s why we are newly obsessed with the app Status Money, which allow you to compare your financial situation to your peers in your area.
Are there other O’Grady’s out there? We. Must. Know.