New York-Newark-Jersey City Metro apartments for rent saw price increases in June
The average apartment listed for rent at $2,291 in June. Average listing prices in New York-Newark-Jersey City Metro are trending 0.9% upwards from May's $2,271 price, up 2% from this time last year.
The data is inclusive of all bedroom sizes, from studios to three-bedroom units, so while it is a good indicator of how rents are moving in the area, it does not include single family homes for rent, said Chris Salviati, senior housing economist for Apartment List.
data.recordonline.com
One-bedroom apartments listed to rent at an average of $2,097, 0.9% higher than May, when they were $2,079. Since last year, one-bedroom rental prices rose 2% from $2,055.
Two-bedroom apartments listed for rent were 0.9% higher than May at an average of $2,347, compared to $2,327. Since last year, two-bedroom rental prices rose 2% from $2,300.
Statewide, New York rental listing prices are on the rise from May's average of $1,938, at $1,956. In New York, one-bedroom rentals were listed for an average of $1,861, 0.9% higher than May's average of $1,844. Two-bedroom rental listing prices are trending 1% higher than May's average of $1,950 at $1969.
In New York-Newark-Jersey City Metro, the average apartment listed for rent is 17% above the state average. One-bedroom rentals were 13% above the state average, while two-bedrooms listed 19% above.
Nationwide, apartment rental listing prices are essentially unchanged from last month's $1,398. One-bedroom rentals across the nation listed for an average of $1,231, nearly the same as last month, while two-bedroom rental listing prices approximately the same as last month's average of $1,384.
In New York-Newark-Jersey City Metro, the average apartment listed for rent is 64% above the national average. One-bedroom apartment rentals listed 70% above the national average, with two-bedroom rentals listed 69% above.
The average apartment rental prices used in this report are gathered from Apartment List, which estimates the median rent using median rent statistics from the Census Bureau's American Community Survey and a growth rate calculated from their listing data. Read more about their rent estimate methodology here.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Apartment List. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu. Our News Automation and AI team would like to hear from you. Take this survey and share your thoughts with us.
This article originally appeared on Times Herald-Record: New York-Newark-Jersey City Metro apartments for rent saw price increases in June
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