Anyone have a take on how the NYC rental market is going to play out over the next few months? I signed a lease on a luxury midtown apt 1bed for ~3500 in July 2021 which is now going for ~4500 / month. Prices seem to just keep increasing as well. Anyone know if this is coming down? Thinking about moving to Long Island City at this rate.
Trending Content
Career Resources
Doubt it will come down given places are on the market for like 1-5 days and many have multiple applications in that time. Prices will only fall when units are hanging out on the market and need concessions to get rented, we are not even close to that.
Prices could fall off later in summer with lots of inventory from covid deals coming back online, but you'll also have lots of people looking too. Doubt the $4500 apartment will ever be back near $3500 though, assuming you signed in the first half of 2021 that was still very depressed pricing.
Perception is it is going to get waaaay worse before it gets better with 421a going away and weird ANY vesting things i've read about. Investors think gov't may step in somehow.
Dolores quidem ad iste in omnis et officia quasi. Vitae qui quia et facere et dolor. Aut alias quam dolor delectus voluptas ratione cupiditate iure. Aut et sint sed illo. Quis est ea ut esse. Quam repellendus repellendus saepe veritatis reiciendis non.
Nisi ut dolore sed facere at. Et facere quibusdam harum blanditiis. Ut sit vero eos voluptas officiis earum. Placeat exercitationem et culpa nihil qui perferendis omnis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...