Manhattan Rent Prices to Climb Back to Pre-Pandemic Levels

Per the Daily Mail, Manhattan rent prices are on track to climb back to pre-pandemic levels as renters are flocking back to the city, causing the number of available units to drop by 38% in a month. Many New Yorkers who fled to work from home across the country are coming back in a rush to take advantage of the decrease in rent prices, causing apartments to fill up at a drastic rate. In turn, the steady increase in demand will eventually bring the rental market back to where it was in the beginning of 2020. Does this news ring a bell? Maybe because it was our July newsletter headline. If you haven’t already subscribed to our newsletter and want to keep up on the state of the market please do so now!