RENTBETTA.com, a website connecting renters with no fee New York City apartments available directly from building owners, without brokers or broker fees, announces average rent in the NYC area decreased 4.1% month over month in September to $5,362.
The median rent decreased 3.3% to $4,784.
The RENT BETTA team expects rents to continue to decline through the late Fall as seasonal demand fades, the regional job market weakens due to a rise in interest rates, and an overhang of cases following the eviction moratorium are worked through, increasing available supply.
This is good news for NYC renters, who are now getting some relief from high market prices.
The data is based on over 1,000 no fee apartments on RENTBETTA.com, a site which connects renters directly with no fee property management companies across New York City, allowing renters to save thousands of dollars in broker fees.
On a per-bedroom basis, splitting an apartment is more affordable than renting alone. In September, the median rent for a one bedroom apartment was $4,400, while a shared four bedroom apartment cost only $2,129 per bedroom, or less than half. Join NYC Speed Roommating to meet other roommates to go apartment hunting with.
A blog post with more data is available at RENTBETTA.com/blog/nyc-average-rent-september-2022.
About RENT BETTA
RENTBETTA.com connects renters with no fee apartments available directly from property management companies across NYC, so renters don’t have to pay or work through brokers on sites like Streeteasy. Users can book a tour and apply for any apartment on the site and will be connected directly with that building’s leasing office, not a broker.
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