According to the Miller-Samuel Prudential Douglas Elliman report of Manhattan rental transactions;
The average rent for a Manhattan apartment was $3,812 in the first quarter, Elliman found. That\’s down 8 percent from $4,142 in the prior-year quarter and roughly on par with $3,789 in the fourth quarter of 2009.
The report found that the average rent for a studio was $1,750, falling 1.2 percent from $1,771 in the same quarter last year. One-bedrooms averaged $2,331, down 4.2 percent from last year; two-bedrooms were $3,277, down 7 percent; and three-bedrooms dropped 5 percent to $4,345.
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Now, we here at RDNY.com do a lot of renting. We currently have about 4,100 active listings. I can tell you, that the average rent actually paid by our clients is a lot less than $3,812. We obviously have a different clientele. But why try to pass off an \”average rent of $3,812\” when it isn\’t so? Why don\’t they just say, the average rent paid by well to do New Yorkers is $3,812 but for everyone else, it\’s a lot less. That would be a lot more honest.
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