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Tons of people live in the Lower East Side with affordable rent. Think Chinatown, etc.

Of course that is not where people usually associate with Manhanttan..

I did a walking tour of the lower east side last year. It was run by the "tenement museum" (which is much more interesting than I expected.).

It turned into a talk about housing, and housing prices (we had a california developer on the walk and some english people adding perspective).