Press Release

Grand News Network | November 3, 2023

RENTBETTA.com Announces Median Rents in New York City Increased 1.5% in October

New York City, New York, United States, 3rd Nov 2023, King NewsWireRents in New York City arrest declines seen earlier in the summer and reach a median of $4,734 in October, though are expected to cool through the winter months into February.

Key Points

  • Median NYC rent increased 1.5% sequentially in October from the month prior
  • Median NYC rent decreased -9.6% in October in October from year prior
  • The RENTBETTA.com team expects rents to decline through Winter, with February the cheapest month to rent

RENTBETTA.com, a new site offering no fee New York City apartments for rent directly from property managers and landlords, announces median rents increased 1.5% sequentially in October to $4,734.

Median New York City Rents for No Fee Apartments

  • October, 2023 $4,734 +1.5%
  • September, 2023 $4,665 +1.4%
  • August, 2023 $4,600 -6.2%
  • July, 2023 $4,904 -2.0%
  • June, 2023 $5,005 -0.2%
  • May, 2023 $5,016 +2.6%
  • April, 2023 $4,887 +3.0%
  • March, 2023 $4,745

Median rents as of month end.  Source: RENTBETTA.com

The data is based on over 1,600 no fee apartments available for rent from dozens of property managers across New York City on RENTBETTA.com.  The site is the largest collection of no fee apartments in New York City, available without working with or paying a broker, with apartments from $1,200 per month.

After a large decrease in August, New York City rents have been resilient during September and October, registering sequential increases over 1%.  The RENTBETTA.com team expects rents to cool through the winter months, with February typically being the cheapest time for renters to sign a 12 month lease.

About RENT BETTA

RENTBETTA.com eliminates broker fees by connecting renters directly with property managers in NYC that let you rent directly from their leasing offices. Users can book a tour and apply for any apartment on the site and will be connected directly with the building owner, not a broker.

Journalist?

Email media@RENTBETTA.com for early access to our original data on the NYC rental market, before similar reports are available from competitors.

Media Contact

Organization: RENTBETTA.com

Contact Person: Media Team

Website: https://rentbetta.com

Email: media@rentbetta.com

Address: 188 Grand St

Address 2: Unit 302

City: New York City

State: New York

Country: United States

Release Id: 0311237437

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