Apartment rentals New York with Market Trends

Tenants of rent-regulated apartments in New York City will soon have to write out larger checks to their landlords—the Rent Guidelines Board recently approved an increase of at least 4 percent in the rents of the million or so people who currently live in rent-regulated apartments across the city. Starting October 1st, one-year leases for rent-regulated apartments will see a rent increase of 4 percent, while two-year leases will see a rent increase of 7.75 percent.

If you are looking for an apartment to rent and you’re finding the rents in most Manhattan neighborhoods to be too expensive, the latest rental market report from MNS suggests that you start looking in the Murray Hill and Harlem neighborhoods for your new home. According to the report, while most of the city continues to face an inventory crunch and, therefore, a rise in apartment rents, these two neighborhoods are standing out from the rest by asking rents that are still, surprisingly, affordable and reasonable in this volatile market climate.

New York City has always been known as a very expensive place to live in. Be it a wholesome meal or even just a ride on the subway, it is a common feeling among New Yorkers that they are paying more “for everything” than their counterparts in other cities around the country. This rift is best seen in the living expenses faced by residents of New York City, and now there’s proof. “Rents Through The Roof,” a new report released by the City Controller John Liu has revealed that almost 30% of New Yorkers use up more than half their income to just pay rent.

What justifies a genuine New York living experience? Certainly, no Manhattan resident would claim that a tourist visiting the city for around a week could never actually grasp what it means to live in New York or to actually experience a Manhattan apartment. However, for many tourists, such an assertion is undoubtedly correct. The new trend in New York tourism is to shun the “non-genuine” feeling of staying in a hotel and visiting all of the common landmarks while visiting Manhattan. Visitors to New York want to truly immerse themselves into Manhattan culture, which of course does not come without having lived in a genuine Manahttan apartment. Such a wish has become reality as many tourists are now taking the chance to live in the rented-out apartments of actual New York residents.