New report reveals how much New Yorkers must earn to live like they make $100K

It's getting tougher to for New Yorkers to make ends meet in the city that never sleeps. The average rent for a one-bedroom apartment is $4,100 a month, and the cost of living continues to rise. SmartAsset Editor Jaclyn DeJohn breaks down how much a resident needs to make to equal a $100,000 salary. With high taxes and expenses, experts say a $300,000 salary is the new $100,000. Is it time to rethink your budget and consider relocating?