Oct. 12, 2023 By Ethan Marshall Zumper released its latest New York City Metro Report, which examines and compares the rental trends for one-bedroom units in several metro cities. According to the report, New York City had the highest median rental price for one-bedroom units last month, at $4,080. New York City’s median rental price…
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Oct. 11, 2023 By Ethan Marshall According to StreetEasy’s September Market Report, the Queens neighborhoods of Flushing, Forest Hills and Long Island City are among those with the most homes entering contracts in all of New York City for the month of September. Long Island City and Forest Hills tied for the third-most, with Flushing placing not far behind them at fifth. Both Forest Hills and Long Island City had 38 homes in contract during September 2023. During that time, the median asking price for homes in contract was $439,500 in Forest Hills and $1,164,636 in Long Island City. Of…
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Oct. 10, 2023 By Ethan Marshall StreetEasy identified the 23 New York City neighborhoods that have the lowest barrier to entry to become a homeowner, with 12 Queens neighborhoods making the list, including six in the top 10 for lowest median asking price. All of the neighborhoods on the list require a monthly carrying cost less than the citywide median rent of $3,500 and a minimum down payment of less than $100,000. According to StreetEasy’s analysis, buying a home in any of the 23 neighborhoods listed would require a minimum annual household income below $150,000. For two of the neighborhoods,…
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Oct. 5, 2023 By Ethan Marshall According to the latest Multi-Family Foundation Plan Application Report conducted by the Real Estate Board of New York, the city is on pace to produce just 10,000 new units this year. This would be well short of the 50,000 unit target set by Mayor Eric Adams and housing experts…
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Oct. 3, 2023 By Ethan Marshall According to research from Visio Lending, New York was determined to be the state most interested in investing in property. This conclusion was drawn from the combination of 11 common search terms related to property and real estate to reveal the average monthly search volume in each state. The states were then ranked from “most interested” to “least interested,” based on searches per 100,000 of the state’s population. New York had 124 searches per 100,000 people, which was far and away more than second place Massachusetts’ 108. Over the past year, New York state…
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Oct. 2, 2023 By Ethan Marshall Following the results of Zumper’s most recent national rent report showing the median cost of rent for one-bedroom units in New York City surpassing $4,000, they decided to review what that amount of monthly rent can get people in other cities across the United States. A total of 10…
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Sep. 27, 2023 By Ethan Marshall According to Zumper’s latest National Rent Report, the median rental price for one-bedroom units across New York City has risen above $4,000. New York City retained its rank as the most expensive city to pay rent among the 100 cities included in the study. One-bedroom units in New York City set a new record with the rent increasing 2.3% from August to September to $4,080. This also represented a 3.3% increase from September 2022. This rent is nearly 29% more than the next-highest on the list, Jersey City, which has a one-bedroom rent of…
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Sep. 25, 2023 By Ethan Marshall According to RentCafe’s latest rental competitivity report, New York City has been facing rising competition when it comes to apartments. This surge is due in large part to Manhattan and Brooklyn both placing among the report’s top 20 rental markets. In this report, 139 markets in the United States…
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Sep. 19, 2023 By Ethan Marshall According to a report from NYC-based listing portal RentHop, Queens saw a large increase in rent prices of one-bedroom units over the course of the summer. This finding comes as demand for outer boroughs like Queens has increased and new developments are being put up there. RentHop’s report analyzed…
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Sep. 12, 2023 By Ethan Marshall According to a report put together by WalletHub, New York has experienced the fourth-highest increase in credit card debt among all states in the second quarter of 2023. This conclusion was reached based upon data recently released by the Federal Reserve, as well as data from TransUnion and the United States Census Bureau. The average credit card debt in the state of New York increased by $2,821,527,680 in the second quarter of 2023, ranking as the fourth-highest in the nation. Only California ($5,412,310,336), Texas ($3,944,711,993) and Florida ($3,087,038,580) experienced a larger increase. The total…
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