Uncertain market helps lower-end rentals

April 24, 2008 08:22AM

Some analysts believe that uncertainty in the economy has boosted
Manhattan’s rental market as New Yorkers become less willing to buy,
especially smaller apartments at the lower end. The average rent for
one-bedrooms was up by 3.7 percent in the first quarter of 2008
compared to the first quarter of 2007, according to a report from Citi
Habitats. Meanwhile, average rent was down 4.9 percent for two-bedrooms
and 7.6 percent for three-bedrooms.


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