#rental-market
#rental-market

NYC real estate

Here's the shocking amount the average New Yorker spends in upfront costs for a rental unit

The average cost of securing a new rental apartment in New York City has become exorbitantly expensive, forcing tenants to remain in their units.

The high upfront costs, including brokers' fees, create a 'lock-in effect' where tenants can't afford to move out. [ more ]

New York City, NY Patch

NYC politics

NYC Rental Vacancies At Worst Level Since 1968: Study

New York City's vacancy rate is at its lowest since 1968.

Mayor Eric Adams aims to build 500,000 new homes in the next decade. [ more ]

www.nytimes.com

NYC real estate

How Much Space Do You Get for $1,700 a Month?

The average national monthly rent of $1,700 leases an average of 944 square feet of space for renters.

New York City dominates the list of most expensive areas for renters, with Manhattan ZIP codes being the most expensive. [ more ]

www.bkreader.com

Brooklyn

Brooklyn Rent Growth Slows to Below 3% for the First Time Since Pandemic

The median asking rent in New York City fell by 2.8% to $3,500 in November.

Rental concessions hit a two-year high, with one in five rentals offering at least one month of free rent in November. [ more ]

therealdeal.com

Alon Abady Buys Beverly Hills Home, Then Lists It for Rent

Alon Abady swiftly rented out a mansion he purchased within 48 hours to recoup the investment.

The mansion features luxurious amenities like a game room, movie theater, fitness studio, and infinity-edge pool. [ more ]

therealdeal.com

LA real estate

Helio Group Buys Culver City Apartments for $68M

Helio Group purchased Cobalt Apartments for $67.7 million in Culver City.

Rents at Cobalt Apartments range from $3,095 to $4,595 for one to two-bedroom units. [ more ]

Curbed

Education

The Real-Estate Fund Buying Up Homes in Top School Districts

Real-estate investor Sean O'Dowd is launching a fund called Scholastic Capital to buy homes in areas with top-performing schools and rent them out.

This market dynamic caters to the demand for living in sought-after school districts but without the need to buy a home. [ more ]

Miami Herald

Miami

Rent decreased or stayed the same in several South Florida cities. See the savings

Rents in several South Florida cities have decreased year-over-year by 1% to 15%.

Sunny Isles Beach and Aventura had the biggest rent drops for one- and two-bedroom residences. [ more ]

www.cbc.ca

Rent hits another record high in January as average asking price reaches $2,196 | CBC News

The average asking price for rent in Canada reached $2,196 in January, a 10% increase from last year.

Rent prices soared last year as supply struggled to keep up with demand, leading to the lowest national vacancy rate on record. [ more ]

SFGATE

Austin

The Cheapest Months To Rent in Austin: Top Money-Saving Tips

Austin, TX is a top destination for new renters due to its growing tech scene and decreasing rent prices.

Rent prices in Austin are highest in the summer and lowest in the winter months. [ more ]

Entrepreneur

Business intelligence

Rent Is Dropping in 27 U.S. Cities. Here's Where to Rent Now | Entrepreneur

Rent prices for one- and two-bedroom apartments in the US remained stable in January.

Surging supply of new rental units is driving down prices and providing renters with more leverage in negotiations. [ more ]

morerent-prices

supply-and-demand

www.newsshopper.co.uk

London

Warning to renters as rent prices 'hit new record high'

Average rents outside of London hit 1,280 and agents are receiving 11 inquiries per available property.

The pace of rental growth is expected to slow down in 2024. [ more ]

www.independent.co.uk

London

Average monthly rents hit record high' as estate agents get 11 inquiries per home'

Average monthly rent outside London reached a record high of £1,280 in Q4 2023

The pace of rental growth is expected to slow down in 2024 [ more ]

moresupply-and-demand

New York Post

4 days ago

Business

The dream of owning a home is slipping away for a majority of renters, New York Fed survey finds

The dream of owning a home is dwindling for many Americans due to soaring housing costs and challenging mortgage rates. [ more ]

Boston Condos For Sale Ford Realty

1 week ago

Boston food

View 114 Back Bay Apartment Rentals Boston Condos For Sale Ford Realty

Back Bay apartments average $5,637, with 114 available and an average 40-day rental period. [ more ]

www.newsshopper.co.uk

2 weeks ago

London

The 5 most expensive streets to rent in London with one costing 20k a month

London's most expensive street for rent has an average monthly rent of 20,000. [ more ]

www.independent.co.uk

1 month ago

UK news

Mapped: See how the UK's record rent rises impact your area

Rent prices in the UK have seen a record annual rise of 9 per cent, significantly above inflation.

Large regional variations exist in the rental market across the UK, with cities like London experiencing up to a 20% increase in rents. [ more ]

www.dw.com

1 month ago

Berlin

Airbnb: Berlin court deals blow to holiday home platform DW 03/13/2024

Thousands of holiday apartments may be freed up for the rental market in Berlin due to a recent court ruling.

Berlin's higher administrative court allows the city to force owners to rent out holiday apartments before a 2014 law banning them goes into effect. [ more ]

www.dw.com

1 month ago

Berlin

Berlin court's holiday home ruling: bad news for Airbnb DW 03/13/2024

Thousands of holiday apartments may be freed up for the rental market in Berlin due to a recent court ruling.

The Berlin higher administrative court's decision could bring back around 10,000 apartments for rental in Berlin. [ more ]

Los Angeles Times

Los Angeles

Are you apartment hunting in L.A.? Tell us about your experience

Rent is declining in Southern California, offering some relief for apartment hunters.

The Times is seeking insights from individuals who recently signed a new lease or are currently apartment hunting. [ more ]

therealdeal.com

Los Angeles

Rents Dip Across Southern California But Not in OC

Apartment rents in Orange County, California have been rising while rents in Los Angeles County and other urban areas have been falling.

The pandemic has caused a shift in housing demand, with suburban areas like Orange County experiencing increased demand for rentals while urban areas see a decrease in demand. [ more ]

www.eastbaytimes.com

East Bay (California)

Alameda briefs: Restaurant Week starts Friday, runs through March 10

Alameda Restaurant Week encourages supporting local businesses and exploring different neighborhoods.

Alameda Rent Program identified tenants owed increase refunds and provided substantial assistance to the public. [ more ]

www.mercurynews.com

5 months ago

East Bay (California)

Free rent? With apartment supply increasing, Bay Area landlords turn to concessions

Concessions such as free rent or free parking are becoming more common in the Bay Area as thousands of new units hit the market.

Newer apartment communities are offering concessions during their initial lease-up period to fill vacant flats.

The housing boom in the Bay Area during the COVID pandemic has resulted in an increase in available units and the need for incentives to attract renters. [ more ]

City & State NY

NYC politics

Rental housing vacancies in NYC hit historic low amid affordability crunch

The number of vacant housing units available to rent in NYC has dropped to a historic low of 1.4% of the total rentable housing stock.

Low-income renters are facing immense pressure due to a tight housing market, high inflation, and an uneven pandemic recovery. [ more ]

Boston.com

Boston

An in-depth look at the Mass. rental market (Feb.)

New housing construction has fallen in the Boston region, leading to low apartment vacancy rates and higher rental prices.

Half of all renters in the US are cost-burdened, spending more than 30% of their income on rent and utilities. [ more ]

SFGATE

SF real estate

Want a Lease for Less? Not in These Cities, Where Rents Are Still On the Rise

The rental market is becoming slightly more affordable, but prices are still higher than before the pandemic.

Prices are still rising in some major cities, and while price declines are expected, high demand will prevent a big break for renters. [ more ]

SFGATE

5 months ago

SF real estate

SF rents keep falling, now 4th priciest in the nation

San Francisco has fallen to the fourth most expensive city for rent in the U.S. for the first time since 2014.

Rental prices in San Francisco declined by 0.3% in November, with the median price of a one-bedroom apartment at $2,970. [ more ]

www.cbc.ca

Canada news

Bank of Canada says government efforts to curb housing crisis will help 'gradually' | CBC News

Record levels of immigration are driving up the cost of housing in Canada.

Efforts to cut the number of non-permanent residents and encourage home building will only gradually help lower housing costs. [ more ]

therealdeal.com

LA real estate

LA tenants Take Cash for Keys to Leave Apartments

Nearly 5,000 cash for keys agreements were filed in Los Angeles from 2019 through last year.

Koreatown, Echo Park, and Mid-Wilshire were the top neighborhoods for buyout agreements. [ more ]

The Mercury News

California

California rents dipped 1% last year, first drop since 2020

California saw a 1% decline in rents in 2023, following double-digit increases in previous years.

California still has the second-highest rent in the country, with only Hawaii being more expensive. [ more ]

www.ocregister.com

California

California rents dipped 1% last year, first drop since 2020

Despite a 1% decline in 2023, California remains an expensive state to rent in

Rents in California are 54% higher than the national average [ more ]

therealdeal.com

5 months ago

California

Apartment Rents Projected to Rise Up to 4% Across SoCal

Apartment rents in Southern California are projected to rise between 2 and 4 percent through 2025.

Rents in Orange County, the Southland's strongest rental market, are expected to have slightly above-average increases, reaching a record $2,800 per month by late 2025. [ more ]

Entrepreneur