06/08/2010 05:12 am ET | Updated May 25, 2011

Want To Move To New York? Get Ready To Pay Up

Every May, New York City sees an influx of fresh-faced college graduates, ready to take on the rest of their lives.

Until they learn the price of rent.

The New York Observer has the lowdown on New York's latest rental market report, and it isn't pretty:

The average rent for a Manhattan studio--four walls, a closet kitchen and a toilet--has increased to $2,417, a 7.3 percent increase over the previous quarter. One-bedrooms averaged just under $3,100, a small increase from last quarter's $3,026.

There are more studios and one-bedrooms available this year. Still, $2,000 a month is not something your basic $35,000, entry-level job will cover comfortably.

There's always Poughkeepsie.

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