October 2020 Manhattan, Brooklyn & Northwest Queens Rentals
Report Manhattan, Brooklyn October 2020 and Queens Rentals Manhattan Rentals Matrix OCT-20 %∆ (MO) SEP-20 %∆ (YR) OCT-19 Average Rental Price $3,910 -2.0% $3,990 -8.8% $4,287 Rental Price Per Sq Ft $61.38 -1.7% $62.47 -11.6% $69.45 Median Rental Price $3,100 -4.6% $3,250 -11.4% $3,500 Manhattan Number of New Leases 5,641 12.4% 5,018 33.2% 4,236 Days on Market (From Last List Date) 33 3.1% 32 26.9% 26 Rentals Listing Discount (From Last List Price) 4.9% 4.5% 2.1% Dashboard Listing Inventory 16,145 1.4% 15,923 218.4% 5,070 Vacancy Rate 6.14% 5.75% 2.03% YEAR-OVER-YEAR Manhattan Rentals With Concessions OCT-20 %∆ (MO) SEP-20 %∆ (YR) OCT-19 - 11.4% Median Rental Price $2,868 -5.5% $3,036 -15.9% $3,409 Market Share of New Leases 60.4% 55.4% 36.9% Prices (with OP + Concessions %) Median Rental Price Free Rent/Owner Paid (Mos) 2.1 5.0% 2.0 75.0% 1.2 Manhattan Rentals Matrix By Size OCT-20 %∆ (MO) SEP-20 %∆ (YR) OCT-19 + 4.11% Studio Average Rental Price $2,451 -0.2% $2,456 -12.8% $2,812 Vacancy Rental Price Per Sq Ft $61.17 -2.5% $62.74 -13.2% $70.45 Vacancy Rate Median Rental Price $2,245 -4.5% $2,350 -16.7% $2,695 Number of New Leases 1,159 11.2% 1,042 13.6% 1,020 + 33.2% 1–Bedroom Average Rental Price $3,251 -1.7% $3,307 -11.5% $3,674 New Leases Rental Price Per Sq Ft $59.47 -2.9% $61.22 -10.0% $66.09 Excludes Renewals Median Rental Price $3,064 -4.1% $3,195 -14.8% $3,595 Number of New Leases 2,356 13.1% 2,083 30.5% 1,806 + 23.5% 2–Bedroom Average Rental Price $4,661 -3.2% $4,817 -9.8% $5,168 Market Share Rental Price Per Sq Ft $60.19 -1.5%
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