Rentals in Demand: FiDi dominates with studios

TRD NEW YORK /
Jan.January 13, 2014 12:40 PM

The Financial District soared last week, becoming the most in-demand Manhattan neighborhood, according to Zumper, an apartment listings website. Rounding out the top five neighborhoods in demand were Chelsea, the Upper West Side, Greenwich Village and – the prior week’s victor – the East Village. Studios drew the bulk of renters’ interest, the Zumper data show.

“The Financial District Was The Most Popular Place for studio searches, driving the median searched price up by 14 percent,” Zumper COO Taylor Glass-Moore told The Real Deal. “East Village was the most popular place for one-bedroom searches, which explains a 3 percent price drop. The searched price for a two-bedroom increased 14 percent while three-bedroom prices remained stable.”

Studios and two-bedrooms tied for the majority of the market share, with 35 percent apiece. The median rent inquiries were $2,270 and $2,800, respectively.

One-bedrooms had 25 percent of the market and a median inquiry of $1,980. Three-bedrooms trailed with 5 percent and $2,975.

Methodology: Zumper determined the rankings by using a representative sample of emails and phone calls from renters interested in its Manhattan listings available for the week ending Jan. 12.Mark Maurer


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