Last year, the COVID-19 pandemic forced thousands out of New York City — causing rent prices to drop for the first time in years.
Still, even during a pandemic, it’s still not easy to rent an apartment in NYC. Landlords often require renters to earn 40 to 50 times the monthly rent, particularly in Manhattan.
If you’re looking to move this summer, you may be able to get a discount on New York City real estate.
New data from July 2021 from Realtor.com showed that rental prices in the city have actually decreased — so renters looking to get into the Big Apple market shouldn’t wait.
According to the stats, while Manhattan is still the most expensive city to live in — rent is actually down from approximately $4,000 a month in July 2019 to about $3,200 a month as of July 2021.
Watch the full interview HERE.