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NYC Rent Declines Surpass Those of the Great Recession


NYC Rent Declines Surpass Those of the Great Recession
Manhattan rents dropped 12.7% year over year in November, returning to 2010 price levels
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NEW YORK, Dec. 16, 2020 /PRNewswire/  New York City rents have fallen more this year than they did during the Great Recession, according to StreetEasy s November 2020 Market Reports.
Driven by the Covid-19 pandemic, Manhattan rents dropped the most out of the three boroughs analyzed falling a whopping 12.7% year over year
i. In November 2020, the median asking rent in Manhattan reached a 10-year low of $2,800. During the Great Recession, Manhattan rents decreased by about 10%. ....

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