The L-train apocalypse is coming. Residents who live off that subway line still have a few years to relocate — the MTA won’t shut down the Canarsie tunnel, which shuttles riders between North Brooklyn and Manhattan, until 2019. But the new nightmare commute might have one salutary effect: reducing average rents in Williamsburg, possibly to the tune of $300 to $450 per month.
FiveThirtyEight came up with that estimate after analyzing 2015 data from 175,000 rental listing compiled by StreetEasy, the real-estate-listing service, to figure out how much New Yorkers are willing to pay to shorten their trips to work. Apparently renters will shell out $56 more per month to take just one minute off their commute (commute, in this case, means to Midtown or downtown Manhattan only.) So basically, we’re all suckers for convenience. But according to FiveThirtyEight, the impending L-train closure will add an additional four to eight minutes to the average trip (depending on where you live off the L), which theoretically adds up to an average of $300 per month. That’s about $3,600 more to splurge on Ubers.