NYC Apartment Agent

New York real estate + beyond

NYC Rent Hits An All-Time High

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Downtown Manhattan. Photo by Bruno J. Navarro

Downtown Manhattan.  (Photo by Bruno J. Navarro)

NEW YORK — It finally happened.

After a recent upward trend over the past several months, the average rent in Manhattan hit a record $3,418 — surpassing the previous high, set in 2007.

Writes The New York Times:

“The last time rents shot up in a similar fashion, they were tied to a strong economy, low unemployment and booming business on Wall Street.

“But this spring, Manhattan rental prices seem to be divorced from the larger economic picture. While the city has added jobs in recent months and growth in businesses like technology has helped make up for losses in the financial sector, much of country is still struggling.”

Brooklyn rents are a similar state, too.

In case you were wondering, that’s about six shares of Apple stock.

It’s no wonder more people who are able to do so are looking to buy.

If you decide to look for a new place to live, take a moment to look over tips for avoiding Craigslist apartment rental scams.

Or use a reputable broker.

Please feel free to share your feedback on how you’re coping with the rental rates in the comments below.

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Written by Bruno

2012.04.23 at 02:07

2 Responses

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  1. […] YORK — As rents climb in Manhattan to all-time highs and the costs of Brooklyn apartments are also on the rise, one woman manages to keep her payment […]

  2. […] YORK — As rents climb in Manhattan to all-time highs and the costs of Brooklyn apartments are also on the rise, one woman manages to keep her payment […]


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