2010 Manhattan Rents Are Rising

The February market rental report from Citi Habitats says that Manhattan rents are up from January but still below February of 2009.

The report, only for apartments leased by Citi Habitats, shows that average rents for one- and two-bedrooms both went up 1% from January to February. Their current one bedroom rent went up to $2,335 from $2,318, still down 3% from $2,405 in February of 2009. Studios, two- and three- bedroom rentals see similar patterns.

Vacancy of rental apartments for February 2010 was 1.54%, consistent with January’s 1.59%. This report estimated 10,355 available Manhattan rentals at any given time.

To read the fill report, visit Scribd.

Image Credit: Citi Habitats via The Real Deal

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