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How is the current state of the real estate market and economy affecting the New York City rental apartment
market? Believe it or not the current state of affairs has not had much of a bottom line effect on rental vacancy
rates and monthly rental prices.
There are two factors which are essentially counteracting each other: Higher unemployment has had the effect of
reducing the amount of people moving to the city while a slower real estate sales market has caused many
would-be buyers to continue to rent. Taking these two factors into account, it's no wonder rental prices and
vacancy rates are similar to what they were last year.
Historically, New York City has weathered slower economic times better than other major U.S. cities.
market? Believe it or not the current state of affairs has not had much of a bottom line effect on rental vacancy
rates and monthly rental prices.
There are two factors which are essentially counteracting each other: Higher unemployment has had the effect of
reducing the amount of people moving to the city while a slower real estate sales market has caused many
would-be buyers to continue to rent. Taking these two factors into account, it's no wonder rental prices and
vacancy rates are similar to what they were last year.
Historically, New York City has weathered slower economic times better than other major U.S. cities.
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