Apartment Demand Normalizing in New York
https://www.realpage.com/analytics/new-york-demand-normalizes/
While New York’s apartment demand declined in 2020, the absorption rebound in the following years was also steep.
While New York’s apartment demand declined in 2020, the absorption rebound in the following years was also steep.
New York is the nation’s worst apartment demand performer in the past year, but occupancy and rent growth are still holding on.
Fueled by strong apartment demand, New York apartment occupancy was solid in July.
The apartment market in New York has seen leasing traffic slow in 1st quarter.
Nearly 66.7% of Syracuse market-rate renters opted to renew their apartment leases over the last 12 months, marking the highest retention rate in the country.
Some small Northeast markets continue to provide affordable rental options for commuters.
In a year of peak apartment supply volumes across the U.S., these are the markets that gained the most new units.
The largest Texas markets posted demand above concurrent supply in the year-ending 1st quarter 2025.
Home prices across the U.S. continue to rise, led by hikes in New York, Chicago and Detroit.
The small New York markets of Albany, Buffalo, Nassau County, Rochester and Syracuse all posted relatively strong apartment occupancy as of November.