Why Even Six-Figure Earners Struggle to Pay Rent in New York City
Since the pandemic, rents in New York City have gone up sharply, especially in the wealthiest and most popular neighborhoods. In some areas, rents are up around 50 to 60 percent compared to just a few years ago. The sharpest jumps are in places like Greenpoint, SoHo, Tribeca, Chelsea, Dumbo, and Long Island City. What…
How New York’s Growing Population Impacts Rent Prices
New York City is the largest city in the United States, with over 8.5 million people living across Manhattan, Brooklyn, Queens, the Bronx, and Staten Island. On top of that, millions more come in every day for work or school from surrounding areas. The city has always been a magnet for newcomers, whether they are…
Why Brooklyn Heights Remains One of New York’s Most Desired Areas
Brooklyn Heights is one of New York City’s oldest neighborhoods. Known for its brownstone homes, tree-lined streets, and historic charm, it has long been a favorite place for people who want to live close to Manhattan but still enjoy a quieter lifestyle. Many of the buildings date back to the 19th century, and the area…
Why Renting Is Beating Buying in Westchester, New York
In the past several years, Westchester County has seen a boom in new apartment buildings. Cities like Yonkers, White Plains, and New Rochelle are leading the way. Yonkers approved thousands of new units in a single year, and New Rochelle wasn’t far behind. These projects aren’t just small developments—many are large complexes with hundreds of…
Rent Hikes Slow Down in Queens and Brooklyn
New data shows that rent prices in Queens and Brooklyn aren’t rising as fast as they were before. In December 2024, the year-over-year rent increases in these two boroughs were smaller than they were in 2023. Meanwhile, Manhattan rents are actually going up faster now than they were a year ago. This shift suggests that…
Cash Deals Hit Record Highs in Manhattan Real Estate
In the second quarter of 2025, nearly 7 out of 10 homes in Manhattan were bought with cash. That’s the highest level seen in years. Only 31% of buyers used a mortgage. Compared to the same time last year, the share of cash deals went up by more than 20%. Experts say wealthy buyers are…
More Manhattan Homes Are Bought With Family Trusts Than Ever Before
In recent years, there’s been a big increase in people using trusts to buy homes in Manhattan. A trust is a legal way to hold and manage property, often set up by parents or family members. In 2024, about 28% of all Manhattan property sales involved a trust. That’s a major jump compared to just…
NYC’s Housing Crisis Deepens: Evictions Spike as Renters’ Economic Struggles Continue
New York City renters are facing increasing pressures, highlighted by a striking near-200% surge in evictions. Two recent studies reveal that while landlords are managing well, their tenants are struggling significantly. Decrease in Wages and Increase in Payment Delays According to a study by the Rent Guidelines Board, there has been a notable 6.1% drop…
Why Buying a Home in New York City Is So Challenging
For anyone trying to buy a home in New York City, it quickly becomes clear that housing prices are extremely high. The city’s five boroughs—Manhattan, Brooklyn, Queens, the Bronx, and Staten Island—contain some of the most expensive neighborhoods in the United States. This high cost makes buying a home a significant challenge, especially in popular…
How Much Does Real Estate Cost Per Foot in NYC Today Compared to 2015 and 2005?
NYC has always been one of the most expensive places to live in the United States. Over the past 20 years, real estate prices have gone through major ups and downs due to big events like 9/11, the 2008 recession, and the COVID-19 pandemic. In this article, we’ll look at how much the average cost…
Requirements for New York Real Estate License Vs Other States
The real estate profession is a lucrative and promising field, attracting thousands of aspiring agents every year. For those looking to embark on this career in New York, it is essential to understand the specific licensing requirements that the state demands, which can vary significantly from other states. Requirements for a Real Estate License in…
High Mortgage Rates Push Average Buyers Out of New York City
In recent times, the real estate market has observed a notable shift, particularly in Manhattan, where an unprecedented surge in cash transactions for home purchases has been recorded. This trend, accentuated by mortgage rates hovering around the 6 percent mark, showcases a significant barrier for prospective buyers without substantial financial backing. The last quarter of…