Oct. 5, 2023 By Ethan Marshall According to the latest Multi-Family Foundation Plan Application Report conducted by the Real Estate Board of New York, the city is on pace to produce just 10,000 new units this year. This would be well short of the 50,000 unit target set by Mayor Eric Adams and housing experts…
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Oct. 3, 2023 By Ethan Marshall According to research from Visio Lending, New York was determined to be the state most interested in investing in property. This conclusion was drawn from the combination of 11 common search terms related to property and real estate to reveal the average monthly search volume in each state. The states were then ranked from “most interested” to “least interested,” based on searches per 100,000 of the state’s population. New York had 124 searches per 100,000 people, which was far and away more than second place Massachusetts’ 108. Over the past year, New York state…
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Oct. 2, 2023 By Ethan Marshall Following the results of Zumper’s most recent national rent report showing the median cost of rent for one-bedroom units in New York City surpassing $4,000, they decided to review what that amount of monthly rent can get people in other cities across the United States. A total of 10…
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Sep. 27, 2023 By Ethan Marshall According to Zumper’s latest National Rent Report, the median rental price for one-bedroom units across New York City has risen above $4,000. New York City retained its rank as the most expensive city to pay rent among the 100 cities included in the study. One-bedroom units in New York City set a new record with the rent increasing 2.3% from August to September to $4,080. This also represented a 3.3% increase from September 2022. This rent is nearly 29% more than the next-highest on the list, Jersey City, which has a one-bedroom rent of…
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Sep. 25, 2023 By Ethan Marshall According to RentCafe’s latest rental competitivity report, New York City has been facing rising competition when it comes to apartments. This surge is due in large part to Manhattan and Brooklyn both placing among the report’s top 20 rental markets. In this report, 139 markets in the United States…
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Sep. 12, 2023 By Ethan Marshall According to a report put together by WalletHub, New York has experienced the fourth-highest increase in credit card debt among all states in the second quarter of 2023. This conclusion was reached based upon data recently released by the Federal Reserve, as well as data from TransUnion and the…
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Sep. 5, 2023 By Ethan Marshall MNS Real Estate’s recently released rental report for the month of August in 2023 shows that the average rent price in Queens is still rising. According to the data collected, the average rent has risen 2.81% from July to August, from $2,735 to $2,811. Studio, one-bedroom and two-bedroom units…
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Sep. 5, 2023 By Ethan Marshall After analyzing data from Zillow that details the average time it takes to close a sale in each state, RubyHome Realty concluded that New York is the slowest state in which to sell realty. The compiled data determined that the nationwide average time it takes to close a sale is 33.5 days. According to the data for 2023, it takes an average of 59.83 days for homes in New York state to be sold. Despite this large average, it actually presents an improvement from the same time in 2022. Since last year, the average…
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Aug. 31, 2023 By Ethan Marshall According to the latest rental activity report from Rent Cafe, Queens experienced the 13th-most rental activity in August 2023 among 150 cities in the United States included in this report. Queens climbed six spots from its August 2022 ranking. The sudden and drastic rise experienced by Queens was thanks…
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Aug. 30, 2023 By Ethan Marshall According to a report from Rent Cafe, New York City has retained its title as No. 1 in apartment construction thus far in 2023. The report estimates that at least 33,000 new rental units are set to be opened this year. Of these units expected to be completed before the end of the year, most of them are either in Brooklyn, Manhattan or Queens. Brooklyn has the most at 9,825, followed by Queens (4,430) and Manhattan (3,770). The Bronx and Staten Island were not included in the metro data set for New York City….
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