Tag Archives: renting

Latest Manhattan Rental Market Report, how does Harlem make out?

HG Photo IMG_1842

I came across an interesting clip from Brick Underground about renting or selling during the Winter months, which then lead me to a Manhattan rental report and from there I tripped over housing stats about Harlem. If you’re an owner of property in Harlem, you’ll enjoy this news. If you’re a person looking to rent in the Harlem area, this is info could be bad news for your endeavor.

According to the 2012 November issue of Manhattan Rental Market Report, “Harlem is the only neighborhood that saw increases,” which is unusual because during the cold season the real estate market typically slows down for both selling and renting; and numbers are flat. But not for renting in Harlem. The numbers are up, according to this report. Here are the Harlem stats:

Non-Doorman Studios (3.1%)
Doorman Studios (4.4%)
Non-Doorman One-Bedrooms (3.5%)
Doorman One-Bedrooms (2.6%)
Non-Doorman Two-Bedrooms (2.0%)
Doorman Two-Bedrooms (1.2%)

To learn more about the Manhattan Rental Market Report, go here.

Rent spikes in Harlem

Harlem is a Nike symbol or an arrow shooting straight up on a graph when it comes to the rental market for apartments. According to The Wall Street Journal, Harlem, along with the Financial District, share a statistic at the moment being that they are seeing the largest rent increases during the last year. Rental prices in both of these Manhattan areas are up more than 15 percent year-over-year.

The article states “the average Harlem apartment rent was $2,055 a month during the second quarter, up $333 from a year earlier. These rent averages include dwellings of all sizes – studios, as well as one-, two- and three-bedroom apartments.”