New York City's median rent has surged to a record $4,700, with 87% of subway stations experiencing rent hikes. This increase represents a shift in renter behavior, as many are moving from costly Manhattan to outer boroughs, only to face rising rents there as well. Key locations experiencing the most significant increases include Steinway Street in Queens and 183rd Street in the Bronx. The spike in rents can be attributed to the city's new congestion pricing, which boosted subway ridership. Some areas, however, experienced rent drops, with 40 stations showing decreases in rental rates.
The citywide median rent in New York reached a record high of $4,700, with rent increases noted near 87% of subway stations.
Mediator rents increased near 412 subway stops this year, marking a rise from 84% last year, demonstrating a widespread rent crisis.
Collection
[
|
...
]