We mentioned the impossible of rent prices dropping in New York City during 2016, and you guys were a wonderful mix of happy and skeptical.
Whether it was disbelief in us being honest (fake news alert), or you guys low-key wanted to find a cheaper place ASAP, the most popular comment from both sides of the spectrum was: Where?!
Well, because numbers and cold, hard stats are rarely alternative facts (we say rarely because, well, we're still trying to find out how many more people slugged through Hulu's Sneaky Pete than attended Drumpf's Inauguration), we can now give you a clearer indication.
For one thing, rent prices aren’t dropping everywhere, but rather in small areas scattered across the boroughs.
And prices are going up in unexpected places but that's a given since it's, well....New York City.
According to Zumper’s recent heat maps, there are some neighborhoods that had double-digit increases from 10 to 13% like East Flatbush, Brooklyn and parts of Harlem.
But we can also see double digit drops in both Upper East and West Side and the Boerum Hill neighborhood in Brooklyn.
Meaning that the apartments near Central Park have decreased more than the apartments in Harlem altogether. Yeah, weird we know.
Will this trend continue in the new year?
We hope so, however the shift may be related to gentrification in previously low-income areas and several renovations attracting high-income residents elsewhere.
We wonder why on Earth that's occurring so suddenly? Thanks, Cuomo. Time will tell if this shift is worth it.
You can check out the detailed article here for the nitty gritty. And we hope you guys have a happier time apartment hunting![via Zumper] [Feature Image Courtesy Zumper]