Tag: real-estate-newsletter

Rental price growth in NYC slows for first time since pandemic: report

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growth

Dec. 14, 2023 By Ethan Marshall The year-over-year rent growth for the month of November in New York City was 2.9%, marking the first time since the COVID-19 pandemic that it rose less than 3%, according to a new report. The real estate firm StreetEasy released the report that found the median rent fell from $3,600 in November 2022 to $3,500 last month. The slower rent growth is reflective of more homes being available for rent across the city, according to StreetEasy. Year-over-year, rentals on the market increased 8.6% in the city from 29,511 last year to 32,049 in November…
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Average rental price in Queens dipped in November: report

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Dec. 13, 2023 By Ethan Marshall The average rental price in Queens decreased in November 2o23 compared to October, according to a report by the real estate firm M.N.S. During that time, the average rental price fell 1.46%, from $2,803 to $2,762. Studios, one-bedroom and two-bedroom units experienced varying decreases in the average rental price across the borough. One-bedroom units experienced the most significant decline, falling 2.08%, from $2,729 to $2,673. Two-bedroom units had the second-largest drop, down 1.44%, from $3,424 to $3,375. The rental price for studios fell 0.75%, from $2,256 to $2,239. Ridgewood was the Queens neighborhood to…
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Housing needs and concerns of residents in lower-density districts of NYC highlighted in effort to get zoning regulations changed

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housing

Dec. 7, 2023 By Ethan Marshall Lower-density neighborhoods in New York City are becoming more common and more diverse, according a study released by the independent research and education nonprofit Citizens Housing and Planning Council, which is dedicated to addressing the housing and planning needs in New York City. Other key findings include a desire for…
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Real estate firm predicts slowing of rent growth in NYC in 2024

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real estate

Dec. 4, 2023 By Ethan Marshall There is an expectation that the growth of rent in New York City will be much slower in 2024, according to the housing market predictions made by the real estate firm StreetEasy. At the same time, the report predicts that there will continue to be more demand for homes in the city than the amount of units available and thus preventing rents from falling. While the expectation is that inventory in New York City will further grow in 2024, it will still be smaller than the pre-pandemic levels. As a result, the rent growth…
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Queens among top areas preferred by renters in countrywide real estate report

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Queens

Nov. 28, 2023 By Ethan Marshall Queens was viewed as one of the top areas in the United States by renters throughout November 2023, according to the latest rental activity report compiled by the national real estate firm RentCafe. Queens is also the most popular rental destination in the northeastern region of the United States….
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NYC among least affordable markets in the country: report

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least

Nov. 16, 2023 By Ethan Marshall New York City was named among the least affordable cities in the United States over the month of October, according to the latest National Affordability Report from the real estate firm RealtyHop. The Big Apple ranked as the fourth-least affordable city, moving up from the fifth place spot in the prior month’s report. The cost of a home in New York City ended up increasing, with the real estate value growing 3.8%. High interest rates and asking prices were cited as two of the main contributing factors to New York City becoming less affordable…
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DCP updates online census tools with new demographic information and features

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census

Nov. 16, 2023 By Ethan Marshall The Department of City Planning announced that updates have been made to the Population FactFinder and Population MapViewer tools on its website to provide new demographic information and features on New York City’s community. These updates include information from the Census Bureau’s 2020 “Census Demographic and Housing Characteristics” file. “The latest additions to Population FactFinder and MapViewer are the next step in our ongoing work to make important demographic information about New York City accessible and transparent to all,” Department of City Planning Director Dan Garodnick said. “Our cutting-edge online tools make it easy…
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Average rental price in Queens increased year-over-year nearly 3% in October 2023: report

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average rental price

Nov. 7, 2023 By Ethan Marshall There was a 2.94% increase in the average rental price in Queens in October 2023 compared to the same month last year, according to a report from the MNS Real Estate firm. The year-over-year increase came despite the fact that rental prices for two-bedroom units actually went down 0.48%, from $3,441 to $3,424. This is largely due to more significant increases experienced with studio (5.40%) and one-bedroom (5.46%) units. Rental prices increased in studio units from $2,140 to $2,256 and in one-bedroom units from $2,588 to $2,729. Despite the significant increase in the average…
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