{"id":507,"date":"2022-10-19T15:28:45","date_gmt":"2022-10-19T19:28:45","guid":{"rendered":"https:\/\/blog.openigloo.com\/?page_id=507"},"modified":"2024-11-18T14:56:45","modified_gmt":"2024-11-18T19:56:45","slug":"rent-reports","status":"publish","type":"page","link":"https:\/\/blog.openigloo.com\/rent-reports\/","title":{"rendered":"Rent Reports"},"content":{"rendered":"\n<div class=\"wp-block-query is-layout-flow wp-block-query-is-layout-flow\"><ul class=\"wp-block-post-template is-layout-flow wp-block-post-template-is-layout-flow\"><li class=\"wp-block-post post-3415 post type-post status-publish format-standard has-post-thumbnail hentry category-rent-report tag-nyc tag-rental tag-renters\">\n<h2 style=\"color:#061938; font-size:2rem;font-style:normal;font-weight:600;line-height:1.2;text-transform:capitalize;\" class=\"wp-block-post-title has-text-color has-nunito-font-family\"><a href=\"https:\/\/blog.openigloo.com\/nyc-summer-2025-rent-report\/\" target=\"_self\" >NYC Summer 2025 Rent Report: Post-FARE Act Shake Up<\/a><\/h2>\n\n<figure style=\"width:90%;\" class=\"wp-block-post-featured-image\"><a href=\"https:\/\/blog.openigloo.com\/nyc-summer-2025-rent-report\/\" target=\"_self\"  ><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"6000\" height=\"2000\" src=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2025\/09\/FARE-Act-report-Feature-img-Sep-2025.png?resize=6000%2C2000&#038;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"NYC Summer 2025 Rent Report: Post-FARE Act Shake Up\" style=\"border-radius:10px;object-fit:cover;\" srcset=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2025\/09\/FARE-Act-report-Feature-img-Sep-2025.png?w=6000&amp;ssl=1 6000w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2025\/09\/FARE-Act-report-Feature-img-Sep-2025.png?resize=300%2C100&amp;ssl=1 300w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2025\/09\/FARE-Act-report-Feature-img-Sep-2025.png?resize=1024%2C341&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2025\/09\/FARE-Act-report-Feature-img-Sep-2025.png?resize=768%2C256&amp;ssl=1 768w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2025\/09\/FARE-Act-report-Feature-img-Sep-2025.png?resize=1536%2C512&amp;ssl=1 1536w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2025\/09\/FARE-Act-report-Feature-img-Sep-2025.png?resize=2048%2C683&amp;ssl=1 2048w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2025\/09\/FARE-Act-report-Feature-img-Sep-2025.png?w=3000&amp;ssl=1 3000w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" data-attachment-id=\"3454\" data-permalink=\"https:\/\/blog.openigloo.com\/nyc-summer-2025-rent-report\/fare-act-report-feature-img-sep-2025\/\" data-orig-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2025\/09\/FARE-Act-report-Feature-img-Sep-2025.png?fit=6000%2C2000&amp;ssl=1\" data-orig-size=\"6000,2000\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"FARE Act report &#8211; Feature img &#8211; Sep 2025\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2025\/09\/FARE-Act-report-Feature-img-Sep-2025.png?fit=300%2C100&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2025\/09\/FARE-Act-report-Feature-img-Sep-2025.png?fit=1024%2C341&amp;ssl=1\" \/><\/a><\/figure>\n\n\n<div style=\"height:8px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"has-link-color wp-elements-b876de46db225a67f82bee7cb7ddf228 wp-block-post-excerpt has-x-small-font-size has-nunito-font-family\"><p class=\"wp-block-post-excerpt__excerpt\">This summer marked a turning point for New York City renters. On June 11, the FARE Act went into effect, putting an end to forced broker fees and reshaping the economics of apartment hunting overnight. At Openigloo, we analyzed how this policy change impacted rents, lease renewals, and inventory during Summer 2025 (June 1-Aug 31).<\/p><p class=\"wp-block-post-excerpt__more-text\"><a class=\"wp-block-post-excerpt__more-link\" href=\"https:\/\/blog.openigloo.com\/nyc-summer-2025-rent-report\/\">Read more<\/a><\/p><\/div>\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator aligncenter has-text-color has-custom-neutral-mid-n-400-color has-alpha-channel-opacity has-custom-neutral-mid-n-400-background-color has-background is-style-wide\"\/>\n\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<\/li><li class=\"wp-block-post post-2148 post type-post status-publish format-standard has-post-thumbnail hentry category-rent-report tag-nyc tag-rental tag-renters\">\n<h2 style=\"color:#061938; font-size:2rem;font-style:normal;font-weight:600;line-height:1.2;text-transform:capitalize;\" class=\"wp-block-post-title has-text-color has-nunito-font-family\"><a href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-july-2023\/\" target=\"_self\" >New York Lease Renewals July 2023<\/a><\/h2>\n\n<figure style=\"width:90%;\" class=\"wp-block-post-featured-image\"><a href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-july-2023\/\" target=\"_self\"  ><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"500\" src=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/08\/Rent-report-Feature-img-Jul-2023.jpg?resize=1500%2C500&#038;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"New York Lease Renewals July 2023\" style=\"border-radius:10px;object-fit:cover;\" srcset=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/08\/Rent-report-Feature-img-Jul-2023.jpg?w=1500&amp;ssl=1 1500w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/08\/Rent-report-Feature-img-Jul-2023.jpg?resize=300%2C100&amp;ssl=1 300w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/08\/Rent-report-Feature-img-Jul-2023.jpg?resize=1024%2C341&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/08\/Rent-report-Feature-img-Jul-2023.jpg?resize=768%2C256&amp;ssl=1 768w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/08\/Rent-report-Feature-img-Jul-2023.jpg?resize=1200%2C400&amp;ssl=1 1200w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" data-attachment-id=\"2163\" data-permalink=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-july-2023\/rent-report-feature-img-jul-2023\/\" data-orig-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/08\/Rent-report-Feature-img-Jul-2023.jpg?fit=1500%2C500&amp;ssl=1\" data-orig-size=\"1500,500\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Rent report Feature img Jul 2023\" data-image-description=\"&lt;p&gt;Rent report Feature img Jul 2023&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Rent report Feature img Jul 2023&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/08\/Rent-report-Feature-img-Jul-2023.jpg?fit=300%2C100&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/08\/Rent-report-Feature-img-Jul-2023.jpg?fit=1024%2C341&amp;ssl=1\" \/><\/a><\/figure>\n\n\n<div style=\"height:8px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"has-link-color wp-elements-b876de46db225a67f82bee7cb7ddf228 wp-block-post-excerpt has-x-small-font-size has-nunito-font-family\"><p class=\"wp-block-post-excerpt__excerpt\">Double-digit rent hikes took a pause last month. In July, rent increases on lease renewals for market-rate apartments in NYC cooled to 4.1% compared to 11.1% a year before and 12.1% in June 2023. Sub-5% rent increases are still prevalent, with 75% of renters reporting renewals in this range. Increases in Brooklyn slightly outpaced those&hellip;<\/p><p class=\"wp-block-post-excerpt__more-text\"><a class=\"wp-block-post-excerpt__more-link\" href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-july-2023\/\">Read more<\/a><\/p><\/div>\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator aligncenter has-text-color has-custom-neutral-mid-n-400-color has-alpha-channel-opacity has-custom-neutral-mid-n-400-background-color has-background is-style-wide\"\/>\n\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<\/li><li class=\"wp-block-post post-2084 post type-post status-publish format-standard has-post-thumbnail hentry category-rent-report tag-nyc tag-rental\">\n<h2 style=\"color:#061938; font-size:2rem;font-style:normal;font-weight:600;line-height:1.2;text-transform:capitalize;\" class=\"wp-block-post-title has-text-color has-nunito-font-family\"><a href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-june-2023\/\" target=\"_self\" >New York Lease Renewals June 2023<\/a><\/h2>\n\n<figure style=\"width:90%;\" class=\"wp-block-post-featured-image\"><a href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-june-2023\/\" target=\"_self\"  ><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"500\" src=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/07\/Rent-report-Feature-img-Jun-2023.jpg?resize=1500%2C500&#038;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"New York Lease Renewals June 2023\" style=\"border-radius:10px;object-fit:cover;\" srcset=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/07\/Rent-report-Feature-img-Jun-2023.jpg?w=1500&amp;ssl=1 1500w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/07\/Rent-report-Feature-img-Jun-2023.jpg?resize=300%2C100&amp;ssl=1 300w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/07\/Rent-report-Feature-img-Jun-2023.jpg?resize=1024%2C341&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/07\/Rent-report-Feature-img-Jun-2023.jpg?resize=768%2C256&amp;ssl=1 768w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/07\/Rent-report-Feature-img-Jun-2023.jpg?resize=1200%2C400&amp;ssl=1 1200w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" data-attachment-id=\"2093\" data-permalink=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-june-2023\/rent-report-feature-img-jun-2023\/\" data-orig-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/07\/Rent-report-Feature-img-Jun-2023.jpg?fit=1500%2C500&amp;ssl=1\" data-orig-size=\"1500,500\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Rent report Feature img Jun 2023\" data-image-description=\"&lt;p&gt;Rent report Feature img Jun 2023&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Rent report Feature img Jun 2023&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/07\/Rent-report-Feature-img-Jun-2023.jpg?fit=300%2C100&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/07\/Rent-report-Feature-img-Jun-2023.jpg?fit=1024%2C341&amp;ssl=1\" \/><\/a><\/figure>\n\n\n<div style=\"height:8px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"has-link-color wp-elements-b876de46db225a67f82bee7cb7ddf228 wp-block-post-excerpt has-x-small-font-size has-nunito-font-family\"><p class=\"wp-block-post-excerpt__excerpt\">It seems like summer pricing is back. In June, rent increases on lease renewals for market-rate apartments in NYC ramped up to 12.2% compared to 21.5% a year before and just 4.9% in May 2023. Rent increases are back in double-digit territory as summer demand pushed prices higher. While sub-5% rent increases are still prevalent,&hellip;<\/p><p class=\"wp-block-post-excerpt__more-text\"><a class=\"wp-block-post-excerpt__more-link\" href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-june-2023\/\">Read more<\/a><\/p><\/div>\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator aligncenter has-text-color has-custom-neutral-mid-n-400-color has-alpha-channel-opacity has-custom-neutral-mid-n-400-background-color has-background is-style-wide\"\/>\n\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<\/li><li class=\"wp-block-post post-1927 post type-post status-publish format-standard has-post-thumbnail hentry category-rent-report tag-nyc tag-rental\">\n<h2 style=\"color:#061938; font-size:2rem;font-style:normal;font-weight:600;line-height:1.2;text-transform:capitalize;\" class=\"wp-block-post-title has-text-color has-nunito-font-family\"><a href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-may-2023\/\" target=\"_self\" >New York Lease Renewals May 2023<\/a><\/h2>\n\n<figure style=\"width:90%;\" class=\"wp-block-post-featured-image\"><a href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-may-2023\/\" target=\"_self\"  ><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"500\" src=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/06\/Rent-report-Feature-img-May-2023.jpg?resize=1500%2C500&#038;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"New York Lease Renewals May 2023\" style=\"border-radius:10px;object-fit:cover;\" srcset=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/06\/Rent-report-Feature-img-May-2023.jpg?w=1500&amp;ssl=1 1500w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/06\/Rent-report-Feature-img-May-2023.jpg?resize=300%2C100&amp;ssl=1 300w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/06\/Rent-report-Feature-img-May-2023.jpg?resize=1024%2C341&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/06\/Rent-report-Feature-img-May-2023.jpg?resize=768%2C256&amp;ssl=1 768w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/06\/Rent-report-Feature-img-May-2023.jpg?resize=1200%2C400&amp;ssl=1 1200w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" data-attachment-id=\"1937\" data-permalink=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-may-2023\/rent-report-feature-img-may-2023\/\" data-orig-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/06\/Rent-report-Feature-img-May-2023.jpg?fit=1500%2C500&amp;ssl=1\" data-orig-size=\"1500,500\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Rent report Feature img May 2023\" data-image-description=\"&lt;p&gt;Rent report Feature img May 2023&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Rent report Feature img May 2023&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/06\/Rent-report-Feature-img-May-2023.jpg?fit=300%2C100&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/06\/Rent-report-Feature-img-May-2023.jpg?fit=1024%2C341&amp;ssl=1\" \/><\/a><\/figure>\n\n\n<div style=\"height:8px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"has-link-color wp-elements-b876de46db225a67f82bee7cb7ddf228 wp-block-post-excerpt has-x-small-font-size has-nunito-font-family\"><p class=\"wp-block-post-excerpt__excerpt\">In May 2023, rent increases on lease renewals for market-rate apartments in NYC cooled off to 4.9% compared to 17% a year before and 6.8% in April 2023. After a year of mostly double-digit increases, renters got some reprieve as landlords handed out sub-5% rent increases in the majority of cases. But why are rent&hellip;<\/p><p class=\"wp-block-post-excerpt__more-text\"><a class=\"wp-block-post-excerpt__more-link\" href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-may-2023\/\">Read more<\/a><\/p><\/div>\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator aligncenter has-text-color has-custom-neutral-mid-n-400-color has-alpha-channel-opacity has-custom-neutral-mid-n-400-background-color has-background is-style-wide\"\/>\n\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<\/li><li class=\"wp-block-post post-1832 post type-post status-publish format-standard has-post-thumbnail hentry category-rent-report tag-nyc tag-rental tag-renters\">\n<h2 style=\"color:#061938; font-size:2rem;font-style:normal;font-weight:600;line-height:1.2;text-transform:capitalize;\" class=\"wp-block-post-title has-text-color has-nunito-font-family\"><a href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-april-2023\/\" target=\"_self\" >New York Lease Renewals April 2023<\/a><\/h2>\n\n<figure style=\"width:90%;\" class=\"wp-block-post-featured-image\"><a href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-april-2023\/\" target=\"_self\"  ><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"500\" src=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/05\/Rent-report-Feature-img-Apr-2023.jpg?resize=1500%2C500&#038;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"New York Lease Renewals April 2023\" style=\"border-radius:10px;object-fit:cover;\" srcset=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/05\/Rent-report-Feature-img-Apr-2023.jpg?w=1500&amp;ssl=1 1500w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/05\/Rent-report-Feature-img-Apr-2023.jpg?resize=300%2C100&amp;ssl=1 300w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/05\/Rent-report-Feature-img-Apr-2023.jpg?resize=1024%2C341&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/05\/Rent-report-Feature-img-Apr-2023.jpg?resize=768%2C256&amp;ssl=1 768w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/05\/Rent-report-Feature-img-Apr-2023.jpg?resize=1200%2C400&amp;ssl=1 1200w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" data-attachment-id=\"1845\" data-permalink=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-april-2023\/rent-report-feature-img-apr-2023\/\" data-orig-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/05\/Rent-report-Feature-img-Apr-2023.jpg?fit=1500%2C500&amp;ssl=1\" data-orig-size=\"1500,500\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Rent report Feature img Apr 2023\" data-image-description=\"&lt;p&gt;Rent report Feature img Apr 2023&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Rent report Feature img Apr 2023&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/05\/Rent-report-Feature-img-Apr-2023.jpg?fit=300%2C100&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/05\/Rent-report-Feature-img-Apr-2023.jpg?fit=1024%2C341&amp;ssl=1\" \/><\/a><\/figure>\n\n\n<div style=\"height:8px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"has-link-color wp-elements-b876de46db225a67f82bee7cb7ddf228 wp-block-post-excerpt has-x-small-font-size has-nunito-font-family\"><p class=\"wp-block-post-excerpt__excerpt\">Rent Increases on Lease Renewals Cooled Off in April In April 2023, rent increases on lease renewals for market-rate apartments in NYC cooled off to 6.8% compared to 20.6% a year before and 10.8% in March 2023. Increases on lease renewals have stabilized compared to 2022, where the market saw steep corrections in rent and&hellip;<\/p><p class=\"wp-block-post-excerpt__more-text\"><a class=\"wp-block-post-excerpt__more-link\" href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-april-2023\/\">Read more<\/a><\/p><\/div>\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator aligncenter has-text-color has-custom-neutral-mid-n-400-color has-alpha-channel-opacity has-custom-neutral-mid-n-400-background-color has-background is-style-wide\"\/>\n\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<\/li><li class=\"wp-block-post post-1757 post type-post status-publish format-standard has-post-thumbnail hentry category-rent-report tag-nyc tag-rental\">\n<h2 style=\"color:#061938; font-size:2rem;font-style:normal;font-weight:600;line-height:1.2;text-transform:capitalize;\" class=\"wp-block-post-title has-text-color has-nunito-font-family\"><a href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-march-2023\/\" target=\"_self\" >New York Lease Renewals March 2023<\/a><\/h2>\n\n<figure style=\"width:90%;\" class=\"wp-block-post-featured-image\"><a href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-march-2023\/\" target=\"_self\"  ><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"500\" src=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/04\/Rent-report-Feature-img-Mar-2023.jpg?resize=1500%2C500&#038;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"New York Lease Renewals March 2023\" style=\"border-radius:10px;object-fit:cover;\" srcset=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/04\/Rent-report-Feature-img-Mar-2023.jpg?w=1500&amp;ssl=1 1500w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/04\/Rent-report-Feature-img-Mar-2023.jpg?resize=300%2C100&amp;ssl=1 300w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/04\/Rent-report-Feature-img-Mar-2023.jpg?resize=1024%2C341&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/04\/Rent-report-Feature-img-Mar-2023.jpg?resize=768%2C256&amp;ssl=1 768w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/04\/Rent-report-Feature-img-Mar-2023.jpg?resize=1200%2C400&amp;ssl=1 1200w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" data-attachment-id=\"1768\" data-permalink=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-march-2023\/rent-report-feature-img-mar-2023\/\" data-orig-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/04\/Rent-report-Feature-img-Mar-2023.jpg?fit=1500%2C500&amp;ssl=1\" data-orig-size=\"1500,500\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Rent report Feature img Mar 2023\" data-image-description=\"&lt;p&gt;Rent report Feature img Mar 2023&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Rent report Feature img Mar 2023&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/04\/Rent-report-Feature-img-Mar-2023.jpg?fit=300%2C100&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/04\/Rent-report-Feature-img-Mar-2023.jpg?fit=1024%2C341&amp;ssl=1\" \/><\/a><\/figure>\n\n\n<div style=\"height:8px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"has-link-color wp-elements-b876de46db225a67f82bee7cb7ddf228 wp-block-post-excerpt has-x-small-font-size has-nunito-font-family\"><p class=\"wp-block-post-excerpt__excerpt\">Increases on March lease renewals for market-rate apartments averaged 10.8% vs. 10.2% in February and 20% for the same period in 2022. This continued increase on rents could be indicative that the winter dip is over, and rents will continue to rise heading into the summer months. Despite the uptick in rent increases, the majority&hellip;<\/p><p class=\"wp-block-post-excerpt__more-text\"><a class=\"wp-block-post-excerpt__more-link\" href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-march-2023\/\">Read more<\/a><\/p><\/div>\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator aligncenter has-text-color has-custom-neutral-mid-n-400-color has-alpha-channel-opacity has-custom-neutral-mid-n-400-background-color has-background is-style-wide\"\/>\n\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<\/li><li class=\"wp-block-post post-1740 post type-post status-publish format-standard has-post-thumbnail hentry category-rent-report tag-nyc tag-rental\">\n<h2 style=\"color:#061938; font-size:2rem;font-style:normal;font-weight:600;line-height:1.2;text-transform:capitalize;\" class=\"wp-block-post-title has-text-color has-nunito-font-family\"><a href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-february-2023\/\" target=\"_self\" >New York Lease Renewals February 2023<\/a><\/h2>\n\n<figure style=\"width:90%;\" class=\"wp-block-post-featured-image\"><a href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-february-2023\/\" target=\"_self\"  ><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"500\" src=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/04\/Rent-report-Feature-img-Feb-2023.jpg?resize=1500%2C500&#038;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"New York Lease Renewals February 2023\" style=\"border-radius:10px;object-fit:cover;\" srcset=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/04\/Rent-report-Feature-img-Feb-2023.jpg?w=1500&amp;ssl=1 1500w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/04\/Rent-report-Feature-img-Feb-2023.jpg?resize=300%2C100&amp;ssl=1 300w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/04\/Rent-report-Feature-img-Feb-2023.jpg?resize=1024%2C341&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/04\/Rent-report-Feature-img-Feb-2023.jpg?resize=768%2C256&amp;ssl=1 768w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/04\/Rent-report-Feature-img-Feb-2023.jpg?resize=1200%2C400&amp;ssl=1 1200w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" data-attachment-id=\"1750\" data-permalink=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-february-2023\/rent-report-feature-img-feb-2023\/\" data-orig-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/04\/Rent-report-Feature-img-Feb-2023.jpg?fit=1500%2C500&amp;ssl=1\" data-orig-size=\"1500,500\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Rent report Feature img Feb 2023\" data-image-description=\"&lt;p&gt;Rent report Feature img Feb 2023&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Rent report Feature img Feb 2023&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/04\/Rent-report-Feature-img-Feb-2023.jpg?fit=300%2C100&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/04\/Rent-report-Feature-img-Feb-2023.jpg?fit=1024%2C341&amp;ssl=1\" \/><\/a><\/figure>\n\n\n<div style=\"height:8px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"has-link-color wp-elements-b876de46db225a67f82bee7cb7ddf228 wp-block-post-excerpt has-x-small-font-size has-nunito-font-family\"><p class=\"wp-block-post-excerpt__excerpt\">Increases on February lease renewals for market-rate apartments averaged 10.2% vs. 8.1% in January and 26% for the same period in 2022. Compared to 2022 levels, rent increases have stabilized, leaving renters weighing the costs of renewing or moving elsewhere. Given the pinch of supply across the 5 boroughs, it seems more renters are opting&hellip;<\/p><p class=\"wp-block-post-excerpt__more-text\"><a class=\"wp-block-post-excerpt__more-link\" href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-february-2023\/\">Read more<\/a><\/p><\/div>\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator aligncenter has-text-color has-custom-neutral-mid-n-400-color has-alpha-channel-opacity has-custom-neutral-mid-n-400-background-color has-background is-style-wide\"\/>\n\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<\/li><li class=\"wp-block-post post-1542 post type-post status-publish format-standard has-post-thumbnail hentry category-rent-report tag-nyc tag-rental\">\n<h2 style=\"color:#061938; font-size:2rem;font-style:normal;font-weight:600;line-height:1.2;text-transform:capitalize;\" class=\"wp-block-post-title has-text-color has-nunito-font-family\"><a href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-january-2023\/\" target=\"_self\" >New York Lease Renewals January 2023<\/a><\/h2>\n\n<figure style=\"width:90%;\" class=\"wp-block-post-featured-image\"><a href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-january-2023\/\" target=\"_self\"  ><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"500\" src=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/02\/Rent-report-Banner-img-Jan-2023.jpg?resize=1500%2C500&#038;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"New York Lease Renewals January 2023\" style=\"border-radius:10px;object-fit:cover;\" srcset=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/02\/Rent-report-Banner-img-Jan-2023.jpg?w=1500&amp;ssl=1 1500w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/02\/Rent-report-Banner-img-Jan-2023.jpg?resize=300%2C100&amp;ssl=1 300w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/02\/Rent-report-Banner-img-Jan-2023.jpg?resize=1024%2C341&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/02\/Rent-report-Banner-img-Jan-2023.jpg?resize=768%2C256&amp;ssl=1 768w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/02\/Rent-report-Banner-img-Jan-2023.jpg?resize=1200%2C400&amp;ssl=1 1200w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" data-attachment-id=\"1553\" data-permalink=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-january-2023\/rent-report-banner-img-jan-2023\/\" data-orig-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/02\/Rent-report-Banner-img-Jan-2023.jpg?fit=1500%2C500&amp;ssl=1\" data-orig-size=\"1500,500\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Rent report Banner img Jan 2023\" data-image-description=\"&lt;p&gt;Rent report Banner img Jan 2023&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Rent report Banner img Jan 2023&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/02\/Rent-report-Banner-img-Jan-2023.jpg?fit=300%2C100&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/02\/Rent-report-Banner-img-Jan-2023.jpg?fit=1024%2C341&amp;ssl=1\" \/><\/a><\/figure>\n\n\n<div style=\"height:8px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"has-link-color wp-elements-b876de46db225a67f82bee7cb7ddf228 wp-block-post-excerpt has-x-small-font-size has-nunito-font-family\"><p class=\"wp-block-post-excerpt__excerpt\">Increases on January lease renewals for market-rate apartments averaged 8.1% vs. 3.2% in December and 17% for the same period in 2022. Rental activity seemed to cool in latter months of 2022 with reported rent increases averaging ~5%. January&#8217;s bounce could be indicative that the seasonal dip is over and rents will rise heading into&hellip;<\/p><p class=\"wp-block-post-excerpt__more-text\"><a class=\"wp-block-post-excerpt__more-link\" href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-january-2023\/\">Read more<\/a><\/p><\/div>\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator aligncenter has-text-color has-custom-neutral-mid-n-400-color has-alpha-channel-opacity has-custom-neutral-mid-n-400-background-color has-background is-style-wide\"\/>\n\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<\/li><li class=\"wp-block-post post-1355 post type-post status-publish format-standard has-post-thumbnail hentry category-rent-report tag-nyc tag-rental\">\n<h2 style=\"color:#061938; font-size:2rem;font-style:normal;font-weight:600;line-height:1.2;text-transform:capitalize;\" class=\"wp-block-post-title has-text-color has-nunito-font-family\"><a href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-december-2022\/\" target=\"_self\" >New York Lease Renewals December 2022<\/a><\/h2>\n\n<figure style=\"width:90%;\" class=\"wp-block-post-featured-image\"><a href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-december-2022\/\" target=\"_self\"  ><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"500\" src=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/01\/Rent-report-Banner-img-Dec-2022-v2.jpg?resize=1500%2C500&#038;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"New York Lease Renewals December 2022\" style=\"border-radius:10px;object-fit:cover;\" srcset=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/01\/Rent-report-Banner-img-Dec-2022-v2.jpg?w=1500&amp;ssl=1 1500w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/01\/Rent-report-Banner-img-Dec-2022-v2.jpg?resize=300%2C100&amp;ssl=1 300w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/01\/Rent-report-Banner-img-Dec-2022-v2.jpg?resize=1024%2C341&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/01\/Rent-report-Banner-img-Dec-2022-v2.jpg?resize=768%2C256&amp;ssl=1 768w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/01\/Rent-report-Banner-img-Dec-2022-v2.jpg?resize=1200%2C400&amp;ssl=1 1200w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" data-attachment-id=\"1371\" data-permalink=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-december-2022\/rent-report-banner-img-dec-2022-v2\/\" data-orig-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/01\/Rent-report-Banner-img-Dec-2022-v2.jpg?fit=1500%2C500&amp;ssl=1\" data-orig-size=\"1500,500\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Rent report Banner img Dec 2022 v2\" data-image-description=\"&lt;p&gt;Rent report Banner img Dec 2022 v2&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Rent report Banner img Dec 2022 v2&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/01\/Rent-report-Banner-img-Dec-2022-v2.jpg?fit=300%2C100&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2023\/01\/Rent-report-Banner-img-Dec-2022-v2.jpg?fit=1024%2C341&amp;ssl=1\" \/><\/a><\/figure>\n\n\n<div style=\"height:8px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"has-link-color wp-elements-b876de46db225a67f82bee7cb7ddf228 wp-block-post-excerpt has-x-small-font-size has-nunito-font-family\"><p class=\"wp-block-post-excerpt__excerpt\">Decreases on lease renewals for market-rate apartments continued into December, averaging 3.2% vs. 5.2% in November and 18.2% for the same period in 2021. Notably, Brooklyn has superseded Manhattan with respect to lease renewals, averaging 6.7%, indicating the popularity of the borough. Increases on rent renewals have been hovering around 5% since August, indicating that&hellip;<\/p><p class=\"wp-block-post-excerpt__more-text\"><a class=\"wp-block-post-excerpt__more-link\" href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-december-2022\/\">Read more<\/a><\/p><\/div>\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator aligncenter has-text-color has-custom-neutral-mid-n-400-color has-alpha-channel-opacity has-custom-neutral-mid-n-400-background-color has-background is-style-wide\"\/>\n\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<\/li><li class=\"wp-block-post post-959 post type-post status-publish format-standard has-post-thumbnail hentry category-rent-report tag-nyc tag-rental\">\n<h2 style=\"color:#061938; font-size:2rem;font-style:normal;font-weight:600;line-height:1.2;text-transform:capitalize;\" class=\"wp-block-post-title has-text-color has-nunito-font-family\"><a href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-november-2022\/\" target=\"_self\" >New York Lease Renewals November 2022<\/a><\/h2>\n\n<figure style=\"width:90%;\" class=\"wp-block-post-featured-image\"><a href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-november-2022\/\" target=\"_self\"  ><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"500\" src=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Banner-img-Oct-2022.jpg?resize=1500%2C500&#038;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"New York Lease Renewals November 2022\" style=\"border-radius:10px;object-fit:cover;\" srcset=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Banner-img-Oct-2022.jpg?w=1500&amp;ssl=1 1500w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Banner-img-Oct-2022.jpg?resize=300%2C100&amp;ssl=1 300w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Banner-img-Oct-2022.jpg?resize=1024%2C341&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Banner-img-Oct-2022.jpg?resize=768%2C256&amp;ssl=1 768w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Banner-img-Oct-2022.jpg?resize=1200%2C400&amp;ssl=1 1200w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" data-attachment-id=\"1320\" data-permalink=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-november-2022\/rent-report-banner-img-oct-2022-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Banner-img-Oct-2022.jpg?fit=1500%2C500&amp;ssl=1\" data-orig-size=\"1500,500\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Rent report Banner img Oct 2022\" data-image-description=\"&lt;p&gt;Rent report Banner img Oct 2022&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Rent report Banner img Oct 2022&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Banner-img-Oct-2022.jpg?fit=300%2C100&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Banner-img-Oct-2022.jpg?fit=1024%2C341&amp;ssl=1\" \/><\/a><\/figure>\n\n\n<div style=\"height:8px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"has-link-color wp-elements-b876de46db225a67f82bee7cb7ddf228 wp-block-post-excerpt has-x-small-font-size has-nunito-font-family\"><p class=\"wp-block-post-excerpt__excerpt\">Decreases on lease renewals for market-rate apartments continued into November, averaging 5.2% vs. 5.9% in October and 11.6% for the same period in 2021. While rent increases on renewals continued to dip lower than 2021 levels, Brooklyn and Manhattan rent increases converged at 6% compared to 0% in Queens. Increases on rent renewals have been&hellip;<\/p><p class=\"wp-block-post-excerpt__more-text\"><a class=\"wp-block-post-excerpt__more-link\" href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-november-2022\/\">Read more<\/a><\/p><\/div>\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator aligncenter has-text-color has-custom-neutral-mid-n-400-color has-alpha-channel-opacity has-custom-neutral-mid-n-400-background-color has-background is-style-wide\"\/>\n\n\n\n<div style=\"height:16px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<\/li><\/ul><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":227048563,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"hashtags":[],"class_list":["post-507","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v26.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Rent Reports | openigloo<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.openigloo.com\/blogs\/rent-reports\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rent Reports\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.openigloo.com\/blogs\/rent-reports\" \/>\n<meta property=\"og:site_name\" content=\"openigloo\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/openigloo\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-18T19:56:45+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@openigloo\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/blog.openigloo.com\/rent-reports\/\",\"url\":\"https:\/\/www.openigloo.com\/blogs\/rent-reports\",\"name\":\"Rent Reports | openigloo\",\"isPartOf\":{\"@id\":\"https:\/\/blog.openigloo.com\/#website\"},\"datePublished\":\"2022-10-19T19:28:45+00:00\",\"dateModified\":\"2024-11-18T19:56:45+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.openigloo.com\/blogs\/rent-reports#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.openigloo.com\/blogs\/rent-reports\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.openigloo.com\/blogs\/rent-reports#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/blog.openigloo.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Rent Reports\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/blog.openigloo.com\/#website\",\"url\":\"https:\/\/blog.openigloo.com\/\",\"name\":\"openigloo\",\"description\":\"As median rents in NYC continue to rise, renters are left weighing the costs of moving or renewing. For the past few months, New Yorkers (especially in Manhattan) have experienced record lease renewals \u2013 sometimes upward of 50%. In June, rent increases on lease renewals for market-rate apartments averaged 13.8%. While 50%+ increases are slowing down, rent increases on renewals are still triple what they were during the same period last year.&lt;br&gt;Renters have been sharing details of their rental experiences and their renewals on openigloo. Many renters have reached out to us asking whether they should move or renew. Our advice is to research the rent prices in their neighborhood and see what others are quoted. For example, in Brooklyn the average June renewal was anincrease of 11%. This figure can act as a benchmark for those negotiating their rents. For those that decide to move, we encourage renters to research their prospective landlords to see what kind of rent increases they can expect to see.\",\"publisher\":{\"@id\":\"https:\/\/blog.openigloo.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/blog.openigloo.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/blog.openigloo.com\/#organization\",\"name\":\"openigloo\",\"url\":\"https:\/\/blog.openigloo.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/blog.openigloo.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/10\/openigloo-dark-vertical-logo.png?fit=330%2C206&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/10\/openigloo-dark-vertical-logo.png?fit=330%2C206&ssl=1\",\"width\":330,\"height\":206,\"caption\":\"openigloo\"},\"image\":{\"@id\":\"https:\/\/blog.openigloo.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/openigloo\",\"https:\/\/x.com\/openigloo\",\"https:\/\/www.instagram.com\/openigloo\/\",\"https:\/\/www.linkedin.com\/company\/openigloo\/\",\"https:\/\/www.tiktok.com\/@openigloo_nyc\"]}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Rent Reports | openigloo","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.openigloo.com\/blogs\/rent-reports","og_locale":"en_US","og_type":"article","og_title":"Rent Reports","og_url":"https:\/\/www.openigloo.com\/blogs\/rent-reports","og_site_name":"openigloo","article_publisher":"https:\/\/www.facebook.com\/openigloo","article_modified_time":"2024-11-18T19:56:45+00:00","twitter_card":"summary_large_image","twitter_site":"@openigloo","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/blog.openigloo.com\/rent-reports\/","url":"https:\/\/www.openigloo.com\/blogs\/rent-reports","name":"Rent Reports | openigloo","isPartOf":{"@id":"https:\/\/blog.openigloo.com\/#website"},"datePublished":"2022-10-19T19:28:45+00:00","dateModified":"2024-11-18T19:56:45+00:00","breadcrumb":{"@id":"https:\/\/www.openigloo.com\/blogs\/rent-reports#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.openigloo.com\/blogs\/rent-reports"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.openigloo.com\/blogs\/rent-reports#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/blog.openigloo.com\/"},{"@type":"ListItem","position":2,"name":"Rent Reports"}]},{"@type":"WebSite","@id":"https:\/\/blog.openigloo.com\/#website","url":"https:\/\/blog.openigloo.com\/","name":"openigloo","description":"As median rents in NYC continue to rise, renters are left weighing the costs of moving or renewing. 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