NYC Rental Market

New York’s rental market is a sector of the residential market that covers temporarily rented apartments, condos, or houses. New York is often thought of as a renter’s city, with a high proportion of residents renting rather than owning their homes.

NYC Rental Market Q&A

What properties are rented in the NYC rental market?
All types of residential properties can fall into the rental market. New Yorkers rent basement apartments, luxury condos, historic townhouses, and even detached homes. Some buildings are entirely rentals; others are mixed renting and owning. Some New Yorkers rent entire apartments or homes for themselves and others share with roommates or family members. New Yorkers participating in the rental market also include landlords and property owners, who are responsible for maintaining buildings and make profit off of their residential holdings.
Want to know more about the NYC rental market?
Check out our Top Stories below for TRD's most up-to-date coverage of NYC's rental market.

NYC Rental Market Top Stories

August 1, 2019Venture capital-backed Nestio is automating the rental application process through its new platform, “Funnel by Nestio.”
July 16, 2019The complaint alleges the rent law violates the U.S. Constitution
July 11, 2019Douglas Elliman and Citi Habitats’ June rental report shows strengthening market in outer boroughs.

The Latest

From left: Bond New York's Noah Freedman, Caliber's Levi Adir, Shai Gruber and Bond New York's Bruno Ricciotti (Credit: Caliber)

Bond New York snaps up 56-agent Midtown firm

Three months after shutting its Chelsea office — and amid a tough market — Bond New York has acquired...

Bond New York snaps up 56-agent Midtown firm
Clockwise from left: Los Angeles, Miami, New York, and Chicago (Credit: iStock)

Tons of apartments will hit the US market this year. They’re for the rich

The U.S. apartment market should see more new units in 2020 than in any year since the 1980s, but...

Tons of apartments will hit the US market this year. They’re for the rich
From left: Joseph Friedman, Harley Courts, Noble Novitzki, and Amylia Hecker

Nooklyn CEO steps down after firm slashes agent commissions

The CEO of startup brokerage Nooklyn is stepping down amid turbulence over the company’s decision to cut agent commissions...

Nooklyn CEO steps down after firm slashes agent commissions
Nestio's Caren Maio (Credit: Emily Assiran)

“Like TurboTax”: Nestio launches online leasing

The idea of renting an apartment with the click of a button just got a little more real. Residential...

“Like TurboTax”: Nestio launches online leasing
(Credit: iStock)

What you need to know about landlords’ challenge to New York’s rent law

Landlord groups kick-started their fight against New York’s new rent law on Monday, filing a lawsuit that claims the...

What you need to know about landlords’ challenge to New York’s rent law
Among Brooklyn's priciest spots is DUMBO; pictured is the neighborhood's Main Street Park (Credit: iStock)

Why fewer Brooklyn and Queens tenants are moving

Landlords offering incentives to renters in Queens and Brooklyn are increasingly in the minority as prices rise and a...

Why fewer Brooklyn and Queens tenants are moving
35 East 63rd Street and Vera Wang (Credit: Getty Images)

Vera Wang’s former UES penthouse returns to rental market at a discount

An Upper East Side penthouse that fashion designer Vera Wang once called home is on the rental market for...

Vera Wang’s former UES penthouse returns to rental market at a discount
REBNY president John Banks and City Hall (Credit: Wikipedia)

REBNY plans rally ahead of hearing on rental commissions

The New York real estate industry is gearing up for its next fight. This time, brokers are at the...

REBNY plans rally ahead of hearing on rental commissions
Council member Keith Powers is a prime sponsor of Intro 1423. His office did not immediately respond to request for comment.

City Council cancels public hearing on bills to reform rental fees at eleventh hour

UPDATE Tuesday, June 11, 4:15 p.m.: At 5:44 p.m. Monday night, City Council members received an email notice that...

City Council cancels public hearing on bills to reform rental fees at eleventh hour
Council member Keith Powers (Credit: Manhattan Community Board 5)

Bill to cap rental commissions is amended to only affect brokers repping landlords

UPDATE Friday, May 31, 2019, 9:19 p.m.: Residential brokers are up in arms over the latest change to a...

Bill to cap rental commissions is amended to only affect brokers repping landlords
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