A new report from Citi Habitats says that the average price of a Manhattan rental has remained steady from the prior month, as have the number of new vacancies. According to Citi Habitats, they say the average rental was $3,315.
$3,315 as an average rent? They must be renting to a different group of people. Of course there are many who can afford that price, but we work with hundreds of renters all the time, and I can tell you that the average, typical renter in Manhattan is paying less than that. I don’t know exactly what the average renter is paying, but I’m certain it’s less.
Of course, people coming to RDNY.com are looking for a no fee apartment in New York. So perhaps they are more price conscious. But then again, the no fee apartments rented through RDNY.com are exactly the same apartments that Citi Habitats rents with a full broker’s fee. So I doubt there is that much difference.