According to a CitiHabitats Report cited in the Wall Street Journal, One Bedroom Rents in Manhattan are up an average of 9.2% since a year ago. The increases are even higher- up to 11.3%- for larger units. Reason: Low Supply with a High Demand. Current vacancy rate is a miniscule .72% Becoming commonplace: Rental Bidding Wars. A Thing of the Past: Landlord Concessions like one month's free or a contribution towards a broker's fee. Good News: With mortgage rates still hovering near all-time low rates, it might be the perfect time to buy!
Laurence P. Mitchell