New York, NY, USA - January 4, 2023 - RENTBETTA.com, a website connecting renters with no fee apartments available directly from building owners and leasing offices through New York City, announces median rents increased 2.6% in the month of December versus November.
In November, rents declined only 0.6% sequentially, an early indicator of surprising strength in the rental market. Traditionally, rents decline noticeably during the Winter months in NYC, as more inventory gradually becomes available after peak demand from an influx of young professionals and new students during the Summer fades.
December's 2.6% sequential increase following a lower than expected November decrease is highly unusual and a worrying trend for renters, who face tight inventory, limited additional supply, and exorbitant broker fees to find a new apartment.
RENT BETTA is doing its part to lower the burden on renters by connecting them with over 1,000 no fee apartments available from dozens of property managers throughout New York City. Users can book a tour and apply for any apartment on the site and will be connected directly with the leasing office, not a broker.
A blog post with more data is available at RENTBETTA.com/blog/nyc-median-rent-december-2022.
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RENTBETTA.com offers no fee apartments from property management companies across NYC, making it easy for renters to save thousands of dollars on broker fees. Users can book a tour and apply for any apartment on the site and will be connected directly with a leasing office, not a broker.
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