Manhattan Market Update: A starter guide to 3BR's in Midtown and Uptown Manhattan
Covid deals are long gone, people, and Manhattan renters are struggling with the aftermath. When people fled Manhattan during 2020, apartment prices fell significantly across the board. Now that renters are flocking back to Manhattan, the resultant price increases seem even that much more more extreme. One agent was quoted saying "Rental prices looked like a V there for a while, but at this point they're starting to look more like a check mark." Rents have risen higher than pre-Covid levels, and even with prices continuing to increase across the board, demand hasn't wavered (Learn more about why demand is so high right now here). This has put a lot of strain on everyone looking for an apartment, from first time renters to lifelong residents.