{"id":959,"date":"2022-12-05T17:48:24","date_gmt":"2022-12-05T22:48:24","guid":{"rendered":"https:\/\/blog.openigloo.com\/?p=959"},"modified":"2023-04-13T11:09:23","modified_gmt":"2023-04-13T15:09:23","slug":"new-york-lease-renewals-november-2022","status":"publish","type":"post","link":"https:\/\/blog.openigloo.com\/new-york-lease-renewals-november-2022\/","title":{"rendered":"New York Lease Renewals November 2022"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-rent-increases-on-lease-renewals-continue-to-stabilize\">Rent increases on lease renewals continue to stabilize<\/h2>\n\n\n\n<p>In November 2022, rent increases on lease renewals for market-rate apartments in NYC were 5.2% compared to 11.6% a year before. As rental activity cools heading in the winter months, 82% of renewals reported an increase of less than 5%. The average November renewal in Brooklyn and Manhattan was a 6% increase, compared to 0% in Queens. <a href=\"https:\/\/blog.openigloo.com\/3-email-templates-for-when-you-want-to-negotiate-your-rent\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"text-decoration: underline;\">Increases in rent<\/span><\/a> renewals have been hovering around 5% since August, indicating that the <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-09-15\/new-york-city-rents-landlords-jack-up-prices-70-in-lease-renewals-post-covid\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"text-decoration: underline;\">post-pandemic boom<\/span><\/a> in prices seems to be behind us.&nbsp;<\/p>\n\n\n\n<div style=\"height:0.25rem\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button has-custom-width wp-block-button__width-50 has-custom-font-size\" style=\"font-size:1em\"><a class=\"wp-block-button__link has-background-color has-custom-extended-blue-grey-d-300-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/www.openigloo.com\/review\" style=\"border-radius:100px;padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\" target=\"_blank\" rel=\"noreferrer noopener\">Read and share reviews<\/a><\/div>\n<\/div>\n\n\n\n<div style=\"height:0.25rem\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-new-york-city-lease-renewals\">New York City Lease Renewals<\/h2>\n\n\n\n<figure class=\"wp-block-table is-style-stripes has-x-small-font-size\" style=\"font-style:normal;font-weight:400\"><table><thead><tr><th><\/th><th class=\"has-text-align-center\" data-align=\"center\">Nov 2022<\/th><th class=\"has-text-align-center\" data-align=\"center\">Oct 2022<\/th><th class=\"has-text-align-center\" data-align=\"center\">Sep 2022<\/th><th class=\"has-text-align-center\" data-align=\"center\">Aug 2022<\/th><th class=\"has-text-align-center\" data-align=\"center\">Nov 2021<\/th><\/tr><\/thead><tbody><tr><td>Average Lease <br>Renewal Change (%)<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.2%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.9%<\/td><td class=\"has-text-align-center\" data-align=\"center\">5.2%<\/td><td class=\"has-text-align-center\" data-align=\"center\">12.5%<\/td><td class=\"has-text-align-center\" data-align=\"center\">11.6%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div style=\"height:1rem\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-november-renewal-breakdown-by-increase\">November Renewal Breakdown&nbsp;By Increase<\/h2>\n\n\n\n<p>82% of lease renewals in November were between 0-4%, while just 0% of renewals were above 51%.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large has-custom-border\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" data-attachment-id=\"1321\" data-permalink=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-november-2022\/rent-report-twitter-size-2x-nov-2022\/\" data-orig-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Twitter-size-2x-Nov-2022.jpg?fit=2400%2C1350&amp;ssl=1\" data-orig-size=\"2400,1350\" 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 Twitter size 2x Nov 2022\" data-image-description=\"&lt;p&gt;Rent report Twitter size 2x Nov 2022&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Rent report Twitter size 2x Nov 2022&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Twitter-size-2x-Nov-2022.jpg?fit=300%2C169&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Twitter-size-2x-Nov-2022.jpg?fit=1024%2C576&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Twitter-size-2x-Nov-2022.jpg?resize=1024%2C576&#038;ssl=1\" alt=\"November Renewal Breakdown\u00a0By Increase\" class=\"has-border-color has-custom-neutral-light-n-20-border-color wp-image-1321\" style=\"border-width:1px\" srcset=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Twitter-size-2x-Nov-2022.jpg?resize=1024%2C576&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Twitter-size-2x-Nov-2022.jpg?resize=300%2C169&amp;ssl=1 300w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Twitter-size-2x-Nov-2022.jpg?resize=768%2C432&amp;ssl=1 768w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Twitter-size-2x-Nov-2022.jpg?resize=1536%2C864&amp;ssl=1 1536w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Twitter-size-2x-Nov-2022.jpg?resize=2048%2C1152&amp;ssl=1 2048w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Twitter-size-2x-Nov-2022.jpg?resize=1200%2C675&amp;ssl=1 1200w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<div style=\"height:1rem\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Jan-Nov 2022 Renewal Change (Manhattan, Brooklyn, Queens)<\/h2>\n\n\n\n<p>Rent increases on <a href=\"https:\/\/blog.openigloo.com\/how-to-strategize-your-stabilized-lease-renewal\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"text-decoration: underline;\">renewals<\/span><\/a> continue to drop below 2021 levels.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large has-custom-border\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" data-attachment-id=\"1326\" data-permalink=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-november-2022\/rent-report-renewal-lines-twitter-size-2x-nov-2022-1\/\" data-orig-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Renewal-Lines-Twitter-size-2x-Nov-2022-1.jpg?fit=2400%2C1350&amp;ssl=1\" data-orig-size=\"2400,1350\" 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 Renewal Lines Twitter size 2x Nov 2022 1\" data-image-description=\"&lt;p&gt;Rent report Renewal Lines Twitter size 2x Nov 2022 1&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Rent report Renewal Lines Twitter size 2x Nov 2022 1&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Renewal-Lines-Twitter-size-2x-Nov-2022-1.jpg?fit=300%2C169&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Renewal-Lines-Twitter-size-2x-Nov-2022-1.jpg?fit=1024%2C576&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Renewal-Lines-Twitter-size-2x-Nov-2022-1.jpg?resize=1024%2C576&#038;ssl=1\" alt=\"Jan-Nov 2022 Renewal Change\" class=\"has-border-color has-custom-neutral-light-n-20-border-color wp-image-1326\" style=\"border-width:1px\" srcset=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Renewal-Lines-Twitter-size-2x-Nov-2022-1.jpg?resize=1024%2C576&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Renewal-Lines-Twitter-size-2x-Nov-2022-1.jpg?resize=300%2C169&amp;ssl=1 300w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Renewal-Lines-Twitter-size-2x-Nov-2022-1.jpg?resize=768%2C432&amp;ssl=1 768w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Renewal-Lines-Twitter-size-2x-Nov-2022-1.jpg?resize=1536%2C864&amp;ssl=1 1536w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Renewal-Lines-Twitter-size-2x-Nov-2022-1.jpg?resize=2048%2C1152&amp;ssl=1 2048w, https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Renewal-Lines-Twitter-size-2x-Nov-2022-1.jpg?resize=1200%2C675&amp;ssl=1 1200w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<div style=\"height:1rem\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button has-custom-width wp-block-button__width-50 has-custom-font-size\" style=\"font-size:1em\"><a class=\"wp-block-button__link has-background-color has-custom-extended-blue-grey-d-300-background-color has-text-color has-background wp-element-button\" href=\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-december-2022\/\" style=\"border-radius:100px;padding-top:var(--wp--preset--spacing--20);padding-right:var(--wp--preset--spacing--20);padding-bottom:var(--wp--preset--spacing--20);padding-left:var(--wp--preset--spacing--20)\" target=\"_blank\" rel=\"noreferrer noopener\">Read December 2022 Report<\/a><\/div>\n<\/div>\n\n\n\n<div style=\"height:1rem\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-custom-neutral-light-n-20-background-color has-background\">Questions or comments? Reach out to us at <a href=\"mailto:info@openigloo.com\" target=\"_blank\" rel=\"noreferrer noopener\">info@openigloo.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 hovering around 5% since August, indicating that the post-pandemic boom in prices seem to be behind us.<\/p>\n","protected":false},"author":227048563,"featured_media":1320,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1364],"tags":[1372,1369],"hashtags":[],"class_list":["post-959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rent-report","tag-nyc","tag-rental"],"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>New York Lease Renewals November 2022 | openigloo<\/title>\n<meta name=\"description\" content=\"Read the November 2022 New York Lease Renewals from openigloo. Get insightful data into the New York Apartment rental market.\" \/>\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\/new-york-lease-renewals-november-2022\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New York Lease Renewals November 2022 | openigloo\" \/>\n<meta property=\"og:description\" content=\"Read the November 2022 New York Lease Renewals from openigloo. 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Get insightful data into the New York Apartment rental market.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Twitter-cover-img-Nov-2022.jpg?fit=1200%2C675&ssl=1\" \/>\n<meta name=\"twitter:creator\" content=\"@openigloo\" \/>\n<meta name=\"twitter:site\" content=\"@openigloo\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"openigloo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.openigloo.com\/blogs\/new-york-lease-renewals-november-2022#article\",\"isPartOf\":{\"@id\":\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-november-2022\/\"},\"author\":{\"name\":\"openigloo\",\"@id\":\"https:\/\/blog.openigloo.com\/#\/schema\/person\/4c77c1531ee3a0bdd17d198e72508ac9\"},\"headline\":\"New York Lease Renewals November 2022\",\"datePublished\":\"2022-12-05T22:48:24+00:00\",\"dateModified\":\"2023-04-13T15:09:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-november-2022\/\"},\"wordCount\":143,\"commentCount\":3,\"publisher\":{\"@id\":\"https:\/\/blog.openigloo.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.openigloo.com\/blogs\/new-york-lease-renewals-november-2022#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Banner-img-Oct-2022.jpg?fit=1500%2C500&ssl=1\",\"keywords\":[\"nyc\",\"rental\"],\"articleSection\":[\"Rent Report\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.openigloo.com\/blogs\/new-york-lease-renewals-november-2022#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/blog.openigloo.com\/new-york-lease-renewals-november-2022\/\",\"url\":\"https:\/\/www.openigloo.com\/blogs\/new-york-lease-renewals-november-2022\",\"name\":\"New York Lease Renewals November 2022 | openigloo\",\"isPartOf\":{\"@id\":\"https:\/\/blog.openigloo.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.openigloo.com\/blogs\/new-york-lease-renewals-november-2022#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.openigloo.com\/blogs\/new-york-lease-renewals-november-2022#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/blog.openigloo.com\/wp-content\/uploads\/2022\/12\/Rent-report-Banner-img-Oct-2022.jpg?fit=1500%2C500&ssl=1\",\"datePublished\":\"2022-12-05T22:48:24+00:00\",\"dateModified\":\"2023-04-13T15:09:23+00:00\",\"description\":\"Read the November 2022 New York Lease Renewals from openigloo. 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