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Manhattan Rents On the Rise

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Manhattan Rents on the Rise

Manhattan Rents on the Rise

NEW YORK — Rental rates are on the rise in Manhattan this month, as forecast earlier this year, according to a study released today.

“Prices are up 0.68% overall this month — 1.12% is doorman units and .24% in non-doorman units,” said MNS, in its Manhattan Rental Market Report for May 2011. “Year-over-year numbers also continue to be positive indicators with rents up 6.00% vs. 2010.”

Average prices range from a low of $1,380 for a non-doorman studio in Harlem to $9,088 for a two-bedroom in a SoHo doorman building. (You can download the PDF here.)

Average rents in New York City were forecast to rise 4.4 percent, according to a USA Today story, and up to 5.7 percent, according to The Real Deal.

(Click here to see my listings of currently available apartments.)


Written by Bruno

2011.05.31 at 22:45

One Response

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  1. […] YORK — Manhattan rents, as predicted, have experienced a 10 percent increase from a year ago — with inventory tightening, as […]

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