In early 2025, rental markets in New York City boroughs experienced contrasting trends, as reported by RentCafe. Manhattan's Rental Competitive Index (RCI) surged 8.2 points to 77.3, making it the second most competitive rental market in the U.S., reflecting growing interest in rentals. In contrast, Queens' RCI decreased by 6.4 points to 65.8 due to increased new apartment availability, leading to reduced competition for units. Meanwhile, Brooklyn's trends were not specified. The analysis analyzed crucial metrics across 139 U.S. markets to assess rental competitiveness, providing a comprehensive overview of changing dynamics.
In Queens, the Rental Competitive Index (RCI) dropped by 6.4 points due to increased availability of newly-built apartments, resulting in less competition among prospective renters.
Manhattan saw an 8.2 point rise in its RCI score, reflecting a surge in rental interest, with the number of prospective renters per vacant unit increasing significantly.
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