NYC Rental Market Update April 2021
Here’s a quick snapshot of the NYC rental market for April 2021, with a focus on Manhattan and Brooklyn.
Note that the areas for “best deals” are determined by a combination of vacancy rates and areas with price declines across the most categories of apartment types.
As in previous months, Manhattan was rife with deals, especially in Midtown East, the Lower East Side, the East Village and the Upper East Side.
And Brooklyn had some really great offerings, too, particularly for those looking to live in areas with a high concentration of new development rentals.
Case rates have tumbled in the city and many employers have finally announced office return dates. This means the NYC market is likely to see a spike in demand for rentals this summer.
But with rental inventory still at record levels, prices likely won’t rise too much any time soon.
What to Expect as a Renter
Competition is going to certainly increase, so it’s imperative that renters be ready to move on a rental they want.
This is especially true for in demand listings (townhouses and two or three bedroom listings), which have features like the following:
- Private outdoor space
- In unit washer/dryer
- Private storage
- Bike storage
To get the full NYC Rental Market Update for April 2021, click here.
And if you’re thinking about getting a new rental in NYC, then check out my Renter Resources page and get my FREE guide to renting in NYC when you join my email list!
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