Manhattan rents rise to an all-time high
2 years, 10 months ago

Manhattan rents rise to an all-time high

CNN  

Rents in Manhattan are once again hitting new record highs, after cratering during the pandemic. “In all categories, everything is going up.” Rise in bidding wars Demand is surging for rental apartments, which means the “pandemic pricing” deals offered just a year or two ago have now been replaced by bidding wars. A year ago, roughly 1% of new apartments leased at a rent higher than listed because of a bidding war, said Miller, which is close to a typical rate. “It isn’t an all-time record low in vacancy, but it is the lowest February since the financial crisis,” said Miller. We’re hoping there is some inventory opening up.” Gavzie said many renters are facing a dilemma: accept a rent increase or find a new apartment.

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History of this topic

Manhattan apartment rents climb to highest on record for April
8 months ago

Manhattan apartment rents climb to highest on record for April

Hindustan Times  

-- Manhattan apartment rents rose last month to a new high for April, an increase that suggests another record-shattering summer to come. Manhattan apartment rents rose last month to a new high for April, an increase that suggests another record-shattering summer to come. New leases were signed at a median of $4,250, up $9 from last April, according to appraiser …

New York City’s rent-stabilized tenants face 3rd year of price hikes as renters and landlords grapple with rising costs
8 months, 1 week ago

New York City’s rent-stabilized tenants face 3rd year of price hikes as renters and landlords grapple with rising costs

Hindustan Times  

-- Tenants in New York City’s 1 million rent-stabilized apartments are on track to face the third year in a row of rent increases as renters and landlords grapple with rising costs. Tenants in New York City’s 1 million rent-stabilized apartments are on track to face the third year in a row of rent increases as renters and landlords grapple …

Advertised rents at record highs, but some landlords now being forced to reduce asking prices, Rightmove says
8 months, 1 week ago

Advertised rents at record highs, but some landlords now being forced to reduce asking prices, Rightmove says

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. London asking rents were 5.3 per cent higher in the first quarter of 2024 …

Average Manhattan rent rocketed to $5,249 in November - up 19%
2 years, 1 month ago

Average Manhattan rent rocketed to $5,249 in November - up 19%

Daily Mail  

The average rental price in Manhattan was at a near all-time high again last month, as higher mortgage rates and home prices drive potential homebuyers into rentals. The typical rent in the borough was $5,249 in November, up 19 percent from 2021 and the third-highest ever recorded, according to real estate brokerage firm Douglas Elliman and Miller Samuel. The average …

Rents across the US are starting to fall after spiking to record levels over the summer
2 years, 4 months ago

Rents across the US are starting to fall after spiking to record levels over the summer

Daily Mail  

Rents are starting to come down by up to 9.8 percent after spiking to record levels this past summer, but some cities have seen asking prices soar by 31 percent. The national median asking rent rose to $2,032 in July, up 14 percent over the previous year, the smallest annual increase since November 2021, according to a new report from …

Average Manhattan rent hits another record high of $5,113
2 years, 4 months ago

Average Manhattan rent hits another record high of $5,113

Daily Mail  

The average rental price in Manhattan hit another all-time-high last month, as higher mortgage rates and home prices drive potential homebuyers into rentals. Average and median Manhattan rents are seen on a monthly basis since last June and it is not good news for New Yorkers The average rental price in Manhattan hit another all-time-high last month, as higher mortgage …

Manhattan rents are climbing back to pre-pandemic levels
3 years, 1 month ago

Manhattan rents are climbing back to pre-pandemic levels

CNN  

CNN — Rents in Manhattan rose at the highest rate in more than a decade in October, with increases especially impacting the upper end of the market. Taking those cuts into account, the median rental price for all apartments in Manhattan rose to $3,382 in October, up 18% from a year earlier, according to a report from brokerage firm Douglas …

New York City rents on apartments rise by as much as 70% as market returns to pre-pandemic levels
3 years, 3 months ago

New York City rents on apartments rise by as much as 70% as market returns to pre-pandemic levels

Daily Mail  

Landlords are increasing rents in New York City by as much as 70 percent as markets in some boroughs return to pre-pandemic levels. Citywide, rents are rebounding as demand returns, with the median rent in Brooklyn returning to near pre-pandemic levels, and prices in Manhattan too seeing a steep return Additionally, incentives meant to lure renters are evaporating citywide as …

Manhattan real estate prices hit $999,000 an all-time high since before pandemic
3 years, 6 months ago

Manhattan real estate prices hit $999,000 an all-time high since before pandemic

Daily Mail  

Manhattan real estate prices are experiencing a sudden surge, as buyers return to the city and boost demand for extravagant and costly properties, a new report states. The median resale prices for Manhattan apartments hit $999,000 in the second quarter - an all-time high since before the COVID-19 pandemic hit - according to the report from Douglas Elliman and Miller …

Manhattan apartments haven’t been this cheap to rent in seven years
4 years, 3 months ago

Manhattan apartments haven’t been this cheap to rent in seven years

Live Mint  

Manhattan renters have never had this many apartments to choose from. September proved to be another winning month for bargain-hunters committed to finding a place in New York City’s costliest borough -- and another month of worry for landlords trying to fill mounting vacancies. Apartment listings tripled from a year earlier to 15,923, the largest monthly inventory in records dating …

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