A new fall report finds the Manhattan rental market is hot, but New Yorkers looking for a rental can still get a better deal. NY1's Real Estate reporter Jill Urban filed the following report.
Anyone looking for a rental in Manhattan knows the market is tight. A new report released by Citi Habitats shows the numbers in the city are still holding strong.
"The average studio rents for just shy of $2,000 a month, typical one-bedroom is around $2,700, a two-bedroom is just shy of $3,800 and three-bedrooms are just close to $5,000," says Citi Habitats President Gary Malin. "Obviously that includes everything from super-luxury down to walk-ups, but still the blended average is still very high."
Watch the Video and get the full story here: http://www.ny1.com/content/ny1_living/real_estate/150302/average-city-rental-prices-near-all-time-high
Renting over buying has been one of the debates even for those new york real estate ce professional as to what is mostly or the best option - to own a house or to rent a property instead. With a lot of people having different preferences on either owning or renting out, what matters is the everyone's interest is protected and given their chances to live a safe and sound life having a shelter to stay with.
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