The next time you’re looking to rent a new property in New York City, you might want to pay close attention to your rent, as rent can fluctuate wildly from place to place.
The rent of a studio apartment in Manhattan has soared over the past decade, from $2,300 a month in 2007 to $3,400 in 2016.
And the number of rentals for one-bedroom apartments have gone up by a whopping 90 percent in that time period.
Renters who are looking to move to a new city and/or move into an apartment are looking for places with good-paying jobs.
According to the New York Times, an estimated 4.2 million Americans, or 3.2 percent of the population, are currently unemployed, according to the Bureau of Labor Statistics.
That means that if you’re renting, it’s important to keep in mind that rent can go up when the economy is hurting.
A recent report from Rentrak, a market research company, estimated that the average rent for a studio unit in the city of New York was $1,500 in 2016, but that number rose to $2.2 on average over the next three years.
That is not to say that you can’t get a good deal by paying the rent the same amount you are currently paying for your apartment.
The number of apartments available for rent in Manhattan is growing rapidly, and some studios have been added in recent years.
However, the average apartment rent in New Yorks city has fallen by an average of $1.4 per month in the past three years, according a report from Zillow.
This means that an average apartment in Newyork is now worth more than $7,500.
This trend is not unique to New York.
The national average rent in California has dropped by an astonishing 70 percent in the last decade, and the average price of an apartment in Los Angeles dropped by $2 per month last year.
The average rent also dropped in the Portland area of Oregon, where the average rental price dropped by over 50 percent over the last three years while the average income increased by just under $2 a month.
In fact, rent in many other cities have been falling, with an average rent of just $1 per month for one bedroom apartments in San Francisco, Seattle, Austin and Chicago.
The median rent for an apartment is also down by $1 in Dallas and Los Angeles.
But that doesn’t mean that the median rent in a studio in Manhattan or the one-bedrooms in San Jose and San Francisco is necessarily a good investment.
According the Rentrak report, one- and two-bedroom rental apartments in Manhattan are now cheaper than they were in 2014, while the rents for one and two bedroom apartments have also fallen by almost half in the same period.
While rent in San Mateo, California, is up by $500, the same is not true in New Jersey, where rents are up nearly 75 percent in five years.
Rent for one apartment in the state is now $2 million, while it was $2 and $3 million in 2014.
Rent in New Orleans is up $300, while in Los Angles, rents are down nearly $300.
As a result, renters in many cities are getting a little desperate, as rents have risen to the point where they can no longer afford to stay in a rental apartment.
It’s not uncommon for people who have saved for years to be unable to save enough money to make ends meet, according the Wall Street Journal.