Bloomberg on Nostr: Stabilized NYC Rents Are Rising With Inflation. That’s Good. ========== The Rent ...

Stabilized NYC Rents Are Rising With Inflation. That’s Good.
==========

The Rent Guidelines Board in New York City tentatively endorsed a rent hike of somewhere between 2% and 4.5% on one-year leases, with the middle of that range being 3.25%. Inflation in the New York-Newark-Jersey City metropolitan area in the 12 months ended in March was 3.4%. A 3.25% nominal increase in rents thus amounts to a slight real decrease.

#Rents #Inflation #AffordableHousing

https://www.bloomberg.com/opinion/articles/2024-05-02/stabilized-new-york-city-rents-are-rising-with-inflation-that-s-good