How Does Your Rent Compare? Citi Habitats Releases August Rental Market Report

Gloom! Doom! Etc, etc. Vacancies are up, apartments are sitting on the market longer and renters are being offered ever more incentives to sign on the dotted line. The higher end of the market is definitely the most negatively affected by the economic slowdown and the problems on Wall Street, so it’s no surprise that the Financial District and Battery Park City are currently the best neighborhoods to cash in on landlord-offered incentives like a free month’s rent and no broker’s fee. Units that are priced competitively in relation to market conditions, apartments that are located in  desirable neighborhoods like the West Village or are exceptionally renovated are moving as quickly as ever. Now, on to the charts! When compared to the chart of average rents in June, the table below shows some contraction in the one-,two-, and four-bedroom categories, but a small increase in the price of three-bedrooms.

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About Me

Michelle Erfer is a licensed Real Estate Salesperson in New York City.
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