Thursday, July 12, 2012

Apt to Be Homeless

If you're thinking of moving to the (212), here's some not-surprising-to-those-who-live-here news about the Manhattan rental market. Prices are soaring -- with smaller apartments seeing the biggest hikes. The average rent in Manhattan is $3,778, up 9 percent in a year, according to a new report by Prudential Douglas Elliman. And if you're looking for a studio, then it gets even worse: Average studio rents jumped to $2,569 in the second quarter of the year, a jaw-dropping 18.8 percent increase from last year. Read more HERE.

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