A real estate analysis shows the average rent in Manhattan has risen to $5,058 a month — the highest in history and up 29 percent from last year.
on the huge increases in rents, on the heels of the coronavirus pandemic that virtually shut down New York City for two years:
It’s not all too surprising Manhattan has reached new heights. Behind that, Brooklyn’s average rent was $3,822 and Northwest Queens had an average rent of $3,352 in June . All of this tracks — PropertyShark just released its own report about the most expensive neighborhoods to purchase an apartment in and found that 38 NYC neighborhoods surpassed the $1 million median, even as the overall NYC median decreased to $755,000.
It makes sense then that with such high sales prices would-be buyers would decide to rent instead, which is part of why rents have increased, according to. Families are also moving back to the city after leaving it during the pandemic and, as usual, young professionals are flocking to the city after graduation, the outlet says. All of this has led to bidding wars.
“Bidding wars accounted for 16.6 percent of new leases, up from 8 percent in the same period last year, as the average premium paid over the landlord’s latest asking price rose to 18.2 percent from 9.9 percent over the same period,” the analysis said.The number of homes available for rent, though, were not nearly enough to meet the increasing demand. June’s rental inventory across Manhattan shrank 45.7 percent year over year to 6,433 units.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Mayor Lori Lightfoot gets more help from supporters but trails Willie Wilson after he loans his campaign $5 millionFormer Chicago Public Schools CEO Paul Vallas also gets a boost from a few wealthy contributors.
Consulte Mais informação »
Average rent for Manhattan apartment soars above $5,000 a month in JuneFor the first time, the average rent for an apartment in Manhattan rose above $5,000 a month in June.
Consulte Mais informação »
Manhattan rents reach record $5K per month on average in JuneRents in New York City have surged to a new high. In June, the average rent reached $5,058, up 29% from a year ago and surpassing the $5,000 threshold for the first time.
Consulte Mais informação »
Ivana Trump’s Cause of Death is DeterminedFollowing an investigation by the office of New York City’s chief medical examiner, the manner of Ivana Trump’s death has been deemed an accident.
Consulte Mais informação »
Ivana Trump’s death ruled an accidentIvana Trump, the ex-wife of former President Donald Trump, died Thursday of blunt force trauma from an accidental fall, according to multiple reports.
Consulte Mais informação »