Most people have heard of Five Thirty Eight in recent months for their excellent political coverage and data analysis, but the company analyzes sports, science, economics, culture and more, anything they can use statistics for to pull out a deeper understanding.
Five Thirty Eight recently looked at the rental prices in New York City vs the average commuting time for that location, and when all was said and done, they put a price value on a New York minute.
How much would you be willing to pay to shave a minute off your commute? For New Yorkers, the answer appears to be around $56 per month. That’s how much more New Yorkers pay in rent, on average, for a one-bedroom apartment that’s a minute closer by subway to Manhattan’s main business districts.
Check out the full article for in-depth analysis of this data.