As we enter summer 2013, things are looking a bit "cutthroat" for the NYC renter. According to The Real Deal and multiple brokerage reports, rents will continue to rise in both Manhattan and Brooklyn. At the same time, vacancy rates are edging close to all-time lows, dropping to a staggeringly low 1.28%.
Challenges for renters include all-time-high pricing for apartments, multiple applications competing per listing, and increasingly tough qualification standards.
AddressReport wants to make sure you, the NYC apartment-hunter, are armed with knowledge of the NYC neighborhoods that are seeing the heaviest search traffic from competing renters, which rental buildings are most popular among your fellow apartment-hunters, and what = average rental prices are looking like this season.
As a bonus for renters currently on the hunt for a new apartment, we've assembled a list of the top no-fee apartment listings currently on AddressReport, so be sure to scroll to the bottom of this post for a look at that as well.
NYC Apartment Rentals Stats for 2013 (To Date)
So how are NYC apartment rental prices shaking out so far in 2013? There's one silver lining: NYC's 2012 rental season was such a brutal uptick from the previous year that prices in 2013, while incredibly high, are roughly in the same range as what was experienced a year ago.
Based on analyzing more than 50,000 historical apartment listings through present-day 2013, the AddressReport data team sees average NYC apartment rents at (figures rounded):
- Studios - $2,270
- One Bedrooms - $2,850
- Two Bedrooms - $3,950
- Three Bedrooms - $5,880
Check out AddressReport's top viewed neighborhoods, apartment buildings and most "pinned" units below.
NYC's 5 Most Popular Neighborhoods for Renters
The most popular neighborhoods in NYC among apartment-hunters using AddressReport through May 2013:
NYC's Top 5 Apartments That Accept Insurent Lease Guaranty
With Summer 2013 shaping up to be one of the most difficult rental seasons in recent history, renters are going to need all the help they can get.
For renters who don't meet the often challenging salary demands of landlords (typically 40x rent), or who don't have a US credit score because they're new to the United States, or who are retired, or -- as is the case of many renters moving during the summer -- are students with no credit or rental history to speak of, Insurent Lease Guaranty will act as a renter's rental cosigner / guarantor, meaning a renter will be able to qualify for an apartment they otherwise could not gain access to and making the rental search process that much easier.
Here are the top 5 currently open apartment listings in NYC for buildings accepting Insurent:
- Luxury doorman, gym, elevator, lounge, roofdeck and laundry building in Financial district.
- Studio: $2495
- Alcove Studio: $2700
- 3 Bedroom/2 bath: $7900
$2650 large luxury studio in the Upper East Side
- Luxury doorman, elevator, roofdeck, pet friendly building
- 1 Bedroom: $3195
- 2 Bedroom: $4395
1 bedroom for only $2395!