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.
Neighboring apartment markets New York and Newark have many similarities, but apartment supply, rents and resident demographics vary considerably across the Hudson River.
The apartment market in New York has seen leasing traffic slow in 1st quarter.
Fueled by strong apartment demand, New York apartment occupancy was solid in July.
New York faces an uphill battle to regain its footing in apartment fundamentals, and the Manhattan submarkets are disproportionately impacting the market’s poor results. New York has racked up several unwelcome titles since the start of the pandemic. The market has lost more jobs than any other market, shedding over 1 million positions in the read more
Bucking the national trend, three small New York apartment markets logged solid rent growth in the past year.
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.
New York apartment market fundamentals remain solid, despite a declining population and slowing job growth.
In calendar 2025, new apartment delivery volumes are expected to jump notably in New York and Los Angeles.