« Back to Previous Page | Real Estate»Reports & Guides»February - 2013 Manhattan And Brooklyn Rentals

Reports And Guides

February - 2013 Manhattan And Brooklyn Rentals

Thumbnail image of February - 2013  Manhattan And Brooklyn Rentals

Report Summary

The pace of rising rents in Manhattan cooled at the end of 2012, but returned in February with even stronger gains. We expect the improving economy, low vacancy rates across most markets, and tight credit conditions to continue placing upward pressure on rents in the coming months. However, with rents already at or near record highs, and low mortgage rates turning more would-be renters into first time buyers, rents may not see the same rapid rise throughout the year. 


After taking a breather in January, Brooklyn rental price indicators began to once again rise at a quicker pace in February. The number of days it took to rent a property fell and landlord concessions were rare, as the rental market remained tight. Rents rose quicker for larger apartments, as would-be tenants of smaller rental apartments continued to shift to the purchase market, enticed by record low mortgage rates. We anticipate rents to remain high this year as the economy slowly improves. 

Download PDF »

 

About Our Reports

Produced in conjunction with Miller Samuel, a leading independent appraisal firm, our market report series is the benchmark for residential real estate market information and an essential reference source for consumers, the media, financial institutions, government agencies, researchers and other market professionals. Each report provides an analysis of price and sales trends as well as many other metrics to give readers an idea of current conditions as well as historical and emerging market trends.

To receive automatic email notifications when new Market Reports are released, click here.

575 MADISON AVENUE, NEW YORK, NY 10022. 212. 891.7000 © 2019 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. EQUAL HOUSING OPPORTUNITY. DRE # 01947727