New York, New Jersey, Connecticut News: Rents

Wednesday, 9 May 2012

Eyewitness NewsNEW YORK (WABC) -- Apartment rents in Manhattan have roared to an historic high.

The average apartment now costs $3,429 a month.

The biggest jump was in the price of studio apartments, up 4 percent in just one month to an average of $2,025 a month.

Analysts say there's a super high demand for rentals because people just can't get the bank loans they need to buy a home.

Prices are expected to continue to increase until at least the fall.

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new york city, manhattan, new york news

Friday, 8 July 2011

Eyewitness NewsNEW YORK (WABC) -- This might not come as a surprise, but living in Manhattan is getting more expensive.

The Wall Street Journal reports that rents have spiked across the city.

On average, Manhattan rents jumped 10 percent during the second quarter of the year.

Three-bedroom apartments saw the biggest increases, rising 11.3 percent to an average of $4,985 a month.

Analysts say the increase is due to fewer apartments being available and an increased demand.

CLICK HERE to read more from the Wall Street Journal, and to get a breakdown of average rent by neighborhood.

new york city, new york news