The Complacent Class (Episode 1/5)
Compare today to the 1950s. At that time, a typical apartment in New York City rented for about $60 per month, or, adjusting for inflation, about $530 a month. … Or to put that 1950s rent in perspective, the U.S. median wage at that time was about $5,000 a year, so a typical New Yorker spent as little as 10 percent of salary on rent, or perhaps even less to the extent that New Yorkers were earning more than other typical Americans.
“The Complacent Class,” by Tyler Cowen (page 43)
The New Era of Segregation (Episode 2/5)
American Culture and Innovation, Produced by Marginal Revolution University