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Alex DamianouVisualization
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NYC Median Asking rents as of q2 2022

NYC renters face a tough market. Median asking rents as of Q2 2022.


#housing #rentals


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Alex DamianouVisualization
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New Yorkers face tough rental market

#housing #rental


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Alex DamianouVisualization
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New Yorkers are paying more than half of their income on rent

#housing #rentals


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Alex DamianouVisualization
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"NYC Monthly Asking Rents"

NYC renters face a tough market. Median asking rents as of Q2 2022.


#housing #rentals


Source: StreetEasy


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Alex DamianouVisualization
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"Percent of income going to monthly rent"

As of Q2 2022


#housing #rentals


Source: StreetEasy, US Census Bureau


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Alex DamianouVisualization
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"NYC Renters face tough market"

Tenants priced out of their homes likely accounted for more than one-third of NYC rental inventory available in Q2, as landlords looked to make back what they offered in pandemic discounts.


As we look to the second half of 2022, renters should expect further increases in rents at least through this summer. NYC is rapidly adjusting to a new normal after the pandemic, but the rental market remains hampered by historically low inventory. Unusually tight rental market conditions suggest rents will continue to rise, at least until a seasonal slowdown in demand occurs for rentals after the summer.


Despite gradually improving inventory, asking rents are rising steeply as landlords seek to reverse pandemic-era discounts. Rental demand has remained strong as more people gradually return to the city after a jump in outbound migration during the pandemic. Disappearing rental concessions also suggest landlords remain confident about demand. Meanwhile, priced out of Manhattan, many renters are shifting their search to more affordable areas in Brooklyn and Queens.


#housing #rental


Source: StreetEasy