A writeup in the Sun this morning confirms what you might've suspected: The rental market is getting squeezed! Some fun facts for your otherwise sunny Thursday morning:
· Manhattan one-bedrooms in luxury buildings "are hovering around $3,000 a month — about $500 more than they were just three years ago."These are of course primarily the doorman buildings they're talking about; if you can live without one, you can typically live for cheaper. Like Benjamin Joffe, who has the choice quote of the article: "It takes me longer to decide what kind of coffee I'm going to get at Starbucks than whether or not I'm going to take the apartment."
· "Five years ago, roughly one in 100 rental apartments were unoccupied. Today, only about one in 220 of these units are available for rent."
· By typical standards, "a person looking to rent a $3,000 one-bedroom apartment would have to earn between $120,000 to $150,000, or else secure a co-signer to guarantee the rent will be paid."
· "Manhattan one-bedroom rentals are generally spoken for within five days."
· Rent Is Surging To $3,000 for One Bedroom [NYS]