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.”