Apartment rentals New York with Average Manhattan Rents

Reeling in the Big Bucks: Posh Perks for Renters

The Aldyn Upper West Side Interior

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Why Are Rents Rising?

Manhattan Rental Market Report

Rent prices are on the rise again, with the median rent up 4.1 percent ($4,093) compared to last year, writes Curbed. Jonathan Miller, compiler of Elliman Report has found that the prices for smaller apartments are now rising faster than the top of the market. In Manhattan, the median price for studios and one-bedrooms is $2,270 - that’s 11 percent up from last year, the highest point in seven years! Brooklyn and Queens rent rates are also going up, though at a much steadier rate. The real question is: why are smaller apartment rents going up?

Rental Market Report: Outer Boroughs Hold Their Own

So we know that NYC has the sixth highest rental market in the nation (technically, the Northern New Jersey-New York area ranked sixth); Samuel Miller’s December 2014 rental report provided more insight into what exactly it looks like, and long story short: median rent levels went up as mean levels went down.

2014's Highest Rent Markets: Where Does NYC Rank?

Zillow calculated the average rents in the nation’s biggest metropolitan markets for 2014, and the NYC area doesn’t even rank in the highest five (pretty not bad for the country's most livable city).  As has been reported previously, California rents topped the list, occupying four out of the top five spots.  Curiously, San Francisco’s average ($1,598), which in previous months had beat out New York’s ($1,228), was actually the second highest — the region with the highest rents was actually San Jose, which was calculated to have an average monthly rent of $1,807.

YOY Rental Prices Continue to Increase

According to the latest Elliman report, compared to last month in June, prices seem to be decreasing. Don’t get too excited just yet though, because although there was a slight decrease between these past two months, July’s overall rents are the highest they have been in the past six consecutive Julys.

New York City Rent Prices Rise While Vacancy Rates Fall

Courtesy of: Anthony Quintano/ Flickr

Apparently, warmer weather coupled with high consumer demand this past June contributed to higher rental prices in New York City. The latest Elliman report shows that the median rental price for Manhattan rose to $3,300 - a 3.3% increase from the same month last year and the highest it has been in more than 5 years. The June vacancy level fell to 1.64% from last period's 1.83%, and is the lowest June level in the 5 years the metric has been tracked.

Rental Guidelines Board Favoring Unusually Low Price Increases

Rent Guidelines Board

Rent increases for rent-stabilized apartments are decided by the Rent Guidelines Board (RGB) of New York City every year. Since 1969, the RGB has always voted to increase the rent rates in NYC.

NYC and Landlords, Since When Does That Not Go Together?

Bottom 20 Counties to Be a Landlord

Photo Source: www.realtytrac.com

New York City is on top of another real estate list, no surprise. The list of top 20 worst counties in America to be a landlord, surprise!

August Manhattan Rental Report: Month 26 of Increases

Manhattan Skyline from Brooklyn

If you’ve been putting off renting an apartment in Manhattan because of increasing rents, don’t hold your breath. The latest report by Elliman shows that Manhattan rents have now increased for 26 straight months. Yes, rents have been increasing on a monthly basis since the summer of 2011. The good news for renters is that the median rent last month only rose by 1.8 percent from August last year. The bad news is that there’s no reason to assume that rents won’t continue to rise.