We already know that New York City is the most expensive city in the world. What's the magic variable that puts us at the top? Rent. Our rent is absurd, and it's not just Manhattan.

Rates for parts of Queens and Brooklyn are just as high-- or higher than pieces of Manhattan real estate. Facts: recently we learned it costs more to live in DUMBO that the West Village and it costs more to live in Williamsburg than the Upper West Side. 

So now that StreetEasy has published its 2015 Q3 report, we can see how much or how little these rates have changed. 

The results are in: this year saw the largest year-to-year rise in Manhattan rent in the last seven years: a 9.5% jump.

The report analyzed rental and buying asking prices across the city and uncovered some disturbing, but not surprising information. Pretty much everything got more expensive, except for a few neighborhoods. 

Places like Manhattan's Upper Carnegie Hill decreased by 25.2% and Prospect Park South went down by 11.9%. Central Park South, where asking prices are around $6,000/square foot, went down by 3.4%. 

Manhattan's median asking price for one bedroom apartments had the largest leap, at 10.7%, landing at $3,271. You can get an entire freakin' house for that in Astoria, Queens. 

Now, part of the whole equation is supply and demand. Demand for New York City living space is always growing as we always have more and more people moving into the City, but it remains (basically) true that if there is an abundant supply, the price can't be too high, even with lots of demand.

Even though developers keep throwing up new luxury high rises all over the place, the demand for them isn't slowing down. In fact, the need for living space in NYC is so crazy that you can't really buy an apartment for less than (just under) $1 million.

via StreetEasy

It's crazy, our rent and living situations are crazy. All of that being said, there are some promising new affordable housing developments going up in some of the most desirable areas.

Having these affordable units in Greenpoint, Downtown Brooklyn, and Prospect Heights may put a cork in the torrent of rising prices for the areas, but it's a drop in the pan when you consider the overall real estate market in the City.  

So here's to hoping we can all still afford to live here in the coming years, with the way things are going. It's sad to say, but we don't see the bubble of luxury building bursting anytime soon, but only time will tell.

Once Hudson Yards and the surrounding area's developments are completed, maybe the demand for new development will slow down. But those are big maybes...

Check out 7 Reasons You Should Absolutely Fall in Love with a New Yorker.

[via Street Easy]

[Feature Image Courtesy Street Easy]