At Nike's NYC street race, where runners went head-to-head for rent money, affordability was top of mind
Nike hosted a street race in New York City where winners received $4,000, marketed as a month's rent. Participants and observers noted that while the prize is helpful, it highlights the broader issue of housing affordability in the city.
Why it matters
The event serves as a case study for how corporate marketing intersects with urban economic struggles and the cost-of-living crisis.
Akinola Raymond, 32, of Manhattan, grinning at the podium on Saturday. Raymond said his rent was $3,800 a month. Truman Dickerson / Business Insider Nike offered two NYC street-race winners up to $4,000 each to cover a month's rent. Some racers and spectators said $4,000 doesn't go far enough in New York's housing market. Affordability has been a major focus of Mayor Zohran Mamdani's administration. Luckily for the winners of Nike's street race — and perhaps Nike as well — both pay less than $4,000 for their share of rent in New York City. The sportswear giant was offering that much, which it described as a month's rent, to two winners of a multi-heat street race held in New York City on Saturday. That's less than the median monthly rental cost for a Manhattan apartment.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in