According to RentCafe’s June report, Queens maintained its status as one of the most sought-after places for renters this month while surpassing Manhattan’s rental activity.
Manhattan had an increase in demand this month; however, it wasn’t enough to beat out Queens’ booming market.
“Listing views in Manhattan rose by 21% this month compared to one year ago and renters marked 26% more apartments as favorites,” read the report. “Despite these increases, Manhattan fell three positions month-over-month, exiting the Top 30. This is largely due to the escalating demand in other boroughs.”
Manhattan’s desirability is highlighted by its fifth position as the most sought-after location in the Northeast, according to the RentCafe report.
Queens’s popularity is also represented in RentCafe’s Northeast ranking. Queens is third, right after the Bronx and Philadelphia.
According to RentCafe, the Bronx is the most in-demand location in the Northeast, ranking 14th nationwide after climbing three spots since last month.
“With a notable 46% year-over-year decline in available rentals and a rise in listings traffic of nearly 50%, [the Bronx] showcases robust demand,” read the report. “Plus, the number of apartments favorited by renters doubled compared to last June.”
In RentCafe’s national ranking, Queens is at 25th, dropping 13% in rental availability.
Read the full article here
