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Rents Are Still Rising Across NYC 

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Across the five boroughs and across the rental market, apartment prices continue to soar, according to an analysis of nearly 390,000 listings over the past three years shared with City Limits by online marketplace StreetEasy.


Residential building with rent stable apartments in the Bronx.

This article was written by a student reporter. City Limits Accountability Reporting Initiative for You (CLARIFY). With additional reporting by Genesis Castro, Rebecca Sampson, Marco Estrada and Zoe Martinez.

Read the full report by City Limits youth journalists.

average rent in manhattan Breaks $5,000 Earlier this year, the statistic became a shorthand way of showing that an out-of-control market is fueling a bidding war, driving down prices for tenants. But apartment prices continue to rise across the five boroughs and across the rental market, according to StreetEasy, an online marketplace shared with City Limits, that analyzed nearly 390,000 properties over the past three years.

Median rent for a one-bedroom apartment in New York City soared to $3,267 in August, up 20% from three years ago, according to data. For two-bedroom homes, the median rent last month hit $3,804, up nearly 27% from August 2019.

StreetEasy’s analysis looked at median rents for one- and two-bedroom apartments in each borough in August over the past four years. The results revealed that median rents rose significantly in all regions except Staten Island during that time period, which could be due to sample size. Only 736 listings, about 0.2% of the total, were in the southernmost borough.

In Queens, median one-bedroom rents hit $2,299 last month, up 17% from August 2019. Two-bedrooms in the World Ward climbed nearly 15% over the period to reach $2,750. In the Bronx, average one-bedroom rent rose 14% from his $1,650 in August 2019 to $1,900 last month. A 2-bedroom has gone up 20% from $2,000 to $2,400.

In Brooklyn, median 2-bedroom rent increased 26.4% last month compared to August 2019. A one-bedroom in Brooklyn jumped from his $2,745 in August 2019 to $3,000 last month.

Park Slope resident Ana Tejeda responded in Spanish to an online survey conducted by City Limits youth journalism intern about the impact of rent increases on residents.

Natario Martinez Cirizzo, a grocer in Jackson Heights, Queens, said his rent had increased by $400 in recent months. “If the landlord wants to raise the rent, I have to pay or leave,” he told reporters in Spanish.

The median citywide rent growth rate compiled by StreetEasy over the last three years is the increase in gross unregulated apartment rents (rent plus utilities) over the decade from 2009 to 2019 exceeded the rate. According to data from the New York University Furman CenterMedian gross rents across the city rose 16.3% in 2021 dollars during that period, according to Furman Center research.

Karla Marie Davis, 30, said the dramatic hike was taking its toll on her family.

“High rents have completely ripped the community apart,” she said. “Insane. We need to fix that.”

TikTok star Davis used her social media platform to advocate for stronger tenant protections. This includes eviction laws for cause that, in most circumstances, give lessees of unregulated units the right to renew their leases. The law allows renters to challenge exorbitant price increases in court, and landlords must provide justification.

or measurementwas opposed by the real estate industry and landlord groups, Failed in Albany last year.

David Brand

Housing activists rallied in January to force state legislators to pass a “for cause” eviction bill.

Ms. Davis recently landed in a rent-stable apartment and said she intends to stay there, with her and about 1 million other households seeing rent increases. Determined by a committee elected by the mayor. Another 1.3 million households in unregulated units are subject to the whims of the market and landlords. These days, that means a hefty increase.

Data analyzed and shared by StreetEasy shows median rent yo-yoing during the pandemic, dropping citywide over the past two years and then surging again. About 336,000 New Yorkers left the city in the first year of the COVID-19 crisis, according to the New York Times. Census data review By Cornell’s Program on Applied Demography.they left behind Over 67,300 Vacant Apartments in Manhattan Alone — with a landlord eager to make some money from their unit.

These owners have offered COVID discounts to attract tenants who may not be able to afford to live in areas like Williamsburg and the West Village. But the price cuts have since expired, just as wealthier New Yorkers have returned to the rental market.a July Report by StreetEasy We found that a third of the units that hit the market in March, April and May were likely to be tenants whose home prices had collapsed.

Software developer Shea Long, 31, found herself nearly dropping the price of her apartment earlier this year. Former real estate agent Long said he expects prices to rise after the economy starts to pick up and COVID discounts expire, but he didn’t predict the full range. He said he paid $2,250 a month for the Midtown location and expected the rent to go up to about $3,000 a month. Instead, the owner demanded his $3,650, a 62% increase. He said he could bring it down to $3,550 a month.

Long decided to go apartment shopping and got into a bidding war with a unit demanding a monthly rent of $3,300. He said he heard the couple offer his $3,450. Another matched his $3,500, he said.

While these prices are unimaginable for most New Yorkers, As reported by City Limitsmany low-income renters are also facing an increase — rarely getting COVID discounts.

For low-income tenants, it has been difficult to find available housing during the pandemic, so rents have remained relatively flat or even increased, according to a March analysis by City Limits. Unlike high-end neighborhoods, vacancy rates in apartments priced for lower-income New Yorkers remained very low during the pandemic. Because eviction protection allowed poor tenants to keep living even if they couldn’t or couldn’t pay their rent.At the same time, many landlords lost their rental income unless you have the funds Through the state’s Emergency Rental Assistance Program.

2021 Tenant survey According to the Community Service Society (funders of City Limits), 43% of respondents earning below the federal poverty line reported a rent increase in 2021. Four of them reported rent cuts last year.

“Anecdotally, and from the data we have, it doesn’t appear that low- and very-low-income rents actually went down during the pandemic,” the study said.

June Moses, who has lived in the same income-restricted Harlem apartment for 30 years, has had to cut back on household expenses after her rent has risen by nearly $200 in recent months. “Now my partner and I have had to drastically cut back on food due to rising food prices. We can’t eat out. We can’t have food delivered,” Moses said. . “We’re on the bare minimum, but I really appreciate hanging in there.”

“For those like me who live in subsidized housing, if you lose your home, leaving New York City is not an option because there is nothing affordable in the city. I will do what I need to do to keep my home here,” added Moses. “I love Harlem and leaving is not part of what I want to do.”

Recognizing the surge in median rents, the federal government recently raised New York City’s Fair Market Rent (FMR) calculation. The FMR is an estimate by the Department of Housing and Urban Development (HUD) of the amount needed to cover the rent and utility costs of 40% of rental units in an area.Cities, states, and federal agencies use their calculations Housing Voucher Program Pricing.

“Rents in New York have hit an all-time high.” Arika Unprey Samuel said, HUD Regional Manager for New York and New Jersey. “Low-income families who were happy to secure rental assistance vouchers struggled to find rooms as the COVID-19 pandemic forced them off the market.”

Since eviction protections expired earlier this year, cities, states, and the federal government have fallen behind in enacting transformative policies to help people stay home and pay rent. ‘s April budget put $800 million into ERAP and $125 million into state governments. Landlord Rent Assistance Program.

Kathy Hochul’s spokesperson, Justin Henry, said the governor “will engage advocates and elected officials on solutions to increase housing supply and ensure that all New Yorkers have access to quality, affordable housing.” We will continue to work with the leaders who have been appointed.”

The city, too, has lagged behind in developing enough income-restricted housing that low-income New Yorkers can afford. Not many details yet.

Diane Yentel, chairman and CEO of the National Low-Income Housing Coalition, told the Biden administration,Expanded tenant protectionThis includes income source protection, just cause eviction standards, and anti-rent-gouging protections. And U.S. Representative Richie Torres has called on Congress to pass the bill he sponsored. Permanently Fund Pandemic Era Rental Assistance Programs, like ERAP, refund property owners and fend off evictions. There is still a long way to go before the bill becomes law.

Despite the high prices and slow pace of protection, there may be relatively good news for renters. new report According to online real estate firm openigloo, rental renewals for unregulated apartments in these districts averaged 12.5% ​​in August, while more than half of lease renewals saw an increase of less than 4%.

Allia Mohamed, CEO of openigloo, said: “I think it will be stable when it’s updated.”

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