With vacancy rates at historic lows and rents climbing, how are recent college grads supposed to afford an apartment? That's part of the reason why apartment shares have always been so prevalent. Enter the Urban Digs crew, who report that finding an apartment share is nearly impossible these days:
In searching for an apartment for two recent grads moving to Manhattan with a budget of $2,800, I couldn't find a full time doorman building below 86th Street with availability that allows shares and pressurized walls. Why? Because every other college grad is looking for the exact same thing. Anything that comes on the market gets rented right away. $2,000 for a studio at Normandie Court? $3,600 for a 1BR at The Windsor Court? No Vacancy at The Habitat? Yikes! Say what you will about Murray Hill (and we do, thank you), but those buildings along 3rd Avenue have traditionally served the purpose of helping to make NYC affordable for kids just out of college, even if that purpose is sometimes frat-tastic.
· "Shares" are Scarce for New Grads [Urban Digs]
· RENTERS GET $LUGGED [NY Post]
· Manhattan Vacancy Rate Inventing Tiny New Decimal Places [Curbed]
· Beyond Dormandy: Curbed Readers Report [Curbed]