At least 1/3 of New York City renters being priced out after pandemic deals, StreetEasy report says
NEW YORK -- At least one third of New York City renters are getting priced out of their apartments, according to a new report.
StreetEasy says 34% of available inventory is made up of apartments in which tenants couldn't afford new prices after the deals they received during the pandemic.
The company says landlords have been raising rents more aggressively on units they leased during the pandemic, in an effort to recoup the earnings they lost.
The report found, on average, rentals that were listed in 2020 or 2021 and re-listed in Q2 of 2022 showed a 20.4% increase in asking rents per year.
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