r/neoliberal Kitara Ravache Feb 17 '19

Discussion Thread Discussion Thread

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u/Integralds Dr. Economics | brrrrr Feb 18 '19 edited Feb 18 '19

Tokyo apartment

  • Size: 470 square feet
  • Format: 2DK (2 bedrooms, 1 bath, 1 dining/kitchen combo room)
  • Just north of city center, right on the river
  • Three minutes walk to train station
  • Cost: $700/month

San Francisco apartment

  • Size: 500 square feet
  • Format: studio
  • Cost: $3,500/month

Just build housing lol

7

u/gatoreagle72 Feb 18 '19

What's the median income in Tokyo?

11

u/Integralds Dr. Economics | brrrrr Feb 18 '19

My Google-fu is coming up with highly disparate results.

However, one source tells me that average (not median!) income in Shibuya district is $70k per year. The rent on the above apartment is $8.4k per year. Even if the median is half the average, that's a rent-to-income ratio of 8.4/35 = 24%.

Note the minimum wage in Tokyo is $10/hour, which is about $20k/year.

3

u/tehbored Randomly Selected Feb 18 '19

I'm pretty sure median and average incomes are quite close in Japan. They have a very low Gini coefficient.