January 5, 2017
The price of a rental apartment in Upper Manhattan grew 6.4% on average in November compared to the year before, which was much faster than the rest of Manhattan, according to the latest information from data firm StreetEasy. That includes neighborhoods in Upper Manhattan like Harlem, Inwood and Washington Heights.
“Heading into winter, the rental market typically slows down and landlords are eager to fill vacancies, presenting renters with potential opportunities to negotiate,” said StreetEasy economist Krishna Rao. “This year, Upper Manhattan is bucking that trend.”
Renters shopping in Upper Manhattan were also the least likely to find a discount. Less than a third of rental inventory in the area was discounted in November (29.9 percent).