New York rental market flooded as coronavirus pandemic persists


NEW YORK CITY – Apartment hunters, you are not wrong to think that New York City has more listings during the coronavirus pandemic.

The city’s rental listings in July hit the highest level in 10 years of data compiled by StreetEasy, a local real estate platform.According to the data, there were approximately 67,000 registrations citywide that month, including 37,000 in Manhattan.

Compare that to the same point last year – the city had 44,000 total listings, of which around 23,000 were in Manhattan.

The data from the listings adds to other studies showing the city’s rental and real estate markets have been hit hard by the coronavirus crisis. Much of it – like a record spike in sublets – appears to be linked to New Yorkers fleeing the city.

Paying rent is a big concern for thousands of New Yorkers who lost their jobs or their wages during the coronavirus pandemic. “Cancel the rent” has become a rallying cry.

But for New Yorkers lucky enough to escape hardship, it seems they have more options and – a little cheaper – for apartments.

Typical Manhattan rent fell to $ 3,200 per month in July from $ 3,500 the year before, according to StreetEasy data.


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