New York Rents Appear Close to Bottom

And there are thousands of New Yorkers at risk of losing their homes later this summer, when a statewide eviction moratorium is expected ...

And there are thousands of New Yorkers at risk of losing their homes later this summer, when a statewide eviction moratorium is expected to end. The pandemic drastically deepened debt for low-income renters who were already at risk of eviction. While a roughly $2.4 billion state program for emergency rental assistance opened to applicants on June 1, some tenant groups have questioned whether the funding and outreach will be sufficient.

New York’s price reset is part of a nationwide trend spurred by tenants seeking lower rents and more space, said Brian Carberry, a senior managing editor with Apartment Guide, a listing aggregation site.

In April, among 100 U.S. markets, Las Vegas had the biggest average rent increase for one-bedroom apartments at $1,653, or 44 percent higher than the same month in 2020, according to the site. It was followed by Virginia Beach, Va., where rents for a one-bedroom rose 32 percent to $1,603, and Mesa, Ariz., where they rose 25 percent to $1,268.

Among the cities with the biggest average price declines for one-bedroom apartments from the same month last year were San Francisco, down 19 percent to $3,137, Washington, D.C., down 17 percent to $2,181, and New York, down 15 percent to $3,684.

“If you always wanted to live somewhere expensive, now is the time to go there,” Mr. Carberry said.

But while deals persist, some landlords are starting to draw back on those sweeteners.

“The prices are coming up, and the concessions are coming off,” said Beatriz Moitinho, an agent with Keller Williams NYC, noting that some buildings that once offered four or five months free on a 16-month lease in the winter are now down to one or two months free.

There has been especially strong activity downtown, in neighborhoods like the East Village, Ms. Moitinho said, where inbound college students — or their parents, more likely — are once again bidding on apartments sight unseen. Areas like the Upper East Side have been slower to rebound, but there, too, prices are rising.

Source Link



Africa,827,Americas,4135,Art & Culture,15055,Arts,6531,Arts & Design,1691,Asia,3310,Automobile,467,Baseball,645,Basketball,537,Books,3924,Business,5383,Celebrity,2633,Cricket,648,Crime,158,Cryptocurrency,1614,Dance,675,Defense,836,Diplomatic Relations,2496,Economy,1161,Editorial,260,Education,1270,Elections,308,Energy & Environment,3079,Entertainment,22791,Environment,3639,Europe,4257,Faith & Religion,235,Family & Life,817,Fashion & Style,3298,Finance,20123,Food & Drink,3780,Football,1115,Games,97,Gossip,10289,Health & Fitness,4126,Health Care,940,Hockey,229,Home & Garden,920,Humour,994,Latin America,49,Lifestyle,17210,Media,527,Middle East,1554,Movies,1757,Music,2677,Opinion,3140,Other,12026,Other Sports,5085,Political News,11324,Political Protests,2324,Politics,17820,Real Estate,1897,Relationship,106,Retail,3116,Science,2663,Science & Tech,10123,Soccer,250,Space & Cosmos,353,Sports,12337,Technology,3468,Tennis,583,Theater,1704,Transportation,313,Travel,2592,TV,3716,US,410,US Sports,1481,Video News,3531,War & Conflict,1069,Weird News,998,World,16644,
Newsrust - US Top News: New York Rents Appear Close to Bottom
New York Rents Appear Close to Bottom
Newsrust - US Top News
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content