How's the rental market doing? Here are your answers!

While there are several regular attempts to gauge Manhattan's rental activity, I still find Citi Habitats' Rental Market Report to be the most comprehensive and useful. Here are some highlights:

1. Year-over-year average rents have increased in all categories.  
2. The percentage of apartments with concessions (free rent, no fee, etc.) is down to 22% from 60% a year ago.
3. The December vacancy rate was approximately 1.21% 
4. Average rents increased steadily throughout 2010. 

In sum, things are heating back up to normal on the rental side. Feel free to call me with questions. Until then, happy hunting!

Download now or preview on posterous

RMR-4Q-10.pdf (2489 KB)

Posted via email from Suite Nothings