We reported last week that rents on New York rental apartments have barely budged since 2009. New York real estate being New York real estate, rents still edged up a little, but the 1.6 percent increase was the smallest in 15 years. A new report at The Real Deal today offers more bleak news for landlords and excellent news for NYC dwellers considering jumping into the Manhattan rental market -- between January and February, average rents rose only 0.16 percent. In other words, the market for NYC rentals is essentially flat right now, which is something of a bummer for Manhattan landlords but also makes this the renter's equivalent of a buyer's market. Rents are lower than they've been in years, the ranks of no-fee apartment listings is growing -- in short, it's about as good a time to be in the market for a luxury rental apartment in Manhattan as any in recent memory. So spare a thought for the landlords before you head over to our rental apartment listings, but by all means get your look on.
So you know, we'll get back into informing-mode, as opposed to you-should-think-about-renting-an-apartment mode, tomorrow. Unless more data like this drops tomorrow, that is.
