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Thread: Survey: Fewer Rentals Available Throughout City (NYC)

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    Supertall Skyscraper Member psukhu's Avatar
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    Survey: Fewer Rentals Available Throughout City (NYC)

    Article from NY1

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    FEBRUARY 08TH, 2003

    Survey: Fewer Rentals Available Throughout City

    If you're in the market for a new apartment, be prepared to wait, or dig deep into your pockets.

    The latest report from the Census Bureau shows that more than a quarter of New Yorkers are spending more than half their income on rent.

    The city's rental vacancy rate for last year was at less than 3 percent, which falls far below the national average of 10 percent.

    The vacancy rate varies according to borough, with Manhattan having the most available at nearly 4 percen, followed by the Bronx at 3.29 percent and Brooklyn at just under 3 percent.

    If you're looking to rent in Queens – good luck. The borough has less than 2 percent available. Staten Island, with fewer rentals to begin with, wasn't even measured.

    With so few apartments on the market, it helps to have money. If you can afford $2,000 dollars a month, you have the most options available to you. Those apartments have a vacancy rate of 10 percent. But if your price range is more around $700 a month, you'll find fewer than 1.5 percent of units are available.

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    Administrator gc's Avatar
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    That is amazing!
    “We shape our Cities, thereafter they shape us.”

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