Rental Markets Across Major Cities Experience Fluctuations in Prices
TL;DR
Queens has become the most competitive rental market in New York City, with an average listing receiving 133% more inquiries compared to May 2019. The borough's neighborhoods, such as Astoria, Long Island City, and Sunnyside, are closer to Manhattan and offer more space at a lower rate than Brooklyn. However, rents are rising, with the borough-wide asking rent rising 12% year-over-year to $2,800 in May, setting another record high for the second consecutive month. With demand high and the number of apartments low, competition is fierce.
- Queens is now the most competitive rental market in NYC Time Out
- Renters Are About to Get the Upper Hand The Wall Street Journal
- Soaring prices for North Texas apartments squeeze renters CBS TEXAS
- Northwest Queens rentals increase 15.3% from last year: report – QNS.com QNS
- 'Relief should be on the horizon': Rent inflation shows more signs of cooling MarketWatch
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