Rents are up more than 25 percent in one of the nation’s most scorching multifamily markets. That's fueling continued strong investor demand, in spite of rising interest rates.
A city resident needs to make a salary of $110,000 to afford the median asking rent of $2,750 for available apartments.
The option to convert some affordable units to market rates makes housing advocates nervous, but many investors like the diversification that owning affordable apartments offers.
Unless the supply of apartments and homes increases, those rents will stay elevated and even rise barring some significant economic downturn.
For as long as the market allows, brokers, lenders, and investors are cashing in on the real estate boom in America’s prime vacation spots.
Economists say the most important thing New York City can do is encourage construction of new units.
Affordability remains a concern among for class-B and class-C apartment stock around the United States.
The mixed-use project is being billed as the single biggest private development in the city’s history.
Research showed when energy labels were present, people selected the most efficient listings 21 percent more often.
