Property Management News
New York City Mayor Zohran Mamdani barreled into City Hall vowing to tackle the city’s notoriously high cost of living, partly by fulfilling a campaign promise repeated with almost monomaniacal zeal in social media ads, speeches and rallies: “As your next mayor, I will freeze your rent.” On Thursday evening, a board he controls made good on that signature pledge. The city’s Rent Guidelines Board, an independent panel of mayoral appointees, approved a rent freeze covering both one-year and two-year leases for people living in about 1 million rent-stabilized apartments. The vote, while expected, is a big win for Mamdani, allowing him to beat back skepticism over his ability to deliver... Read more
More tenants living in New York City’s least expensive housing units aren’t paying their rent — a trend that risks further destabilizing the city’s...
Key Takeaways In expensive coastal metros, ownership is out of reach for the majority of families with young children, making renting the default for most...
Using Zillow Observed Rent Index data, this analysis compares average rent levels in the New York City metro area with the US average, tracking the percentage premium...
KEY TAKEAWAYS Class B apartments are outperforming both Class A and Class C segments due to stable demand and lower risk exposure. Class B assets benefit from strong...
Renters are getting a bit of relief as landlords offer more concessions — like free rent or waived fees — to fill units in a cooling market. Rent growth has slowed to its weakest pace since 2020, according to Zillow data from March, which shows asking rents for U.S. apartments and homes were about $1,910, up 1.8% year over year. Even though rents are still rising, increases have been outpaced by income growth, Zillow reports. That’s helped ease affordability pressures slightly, with the share of income the median household spends on rent falling from 29.4% to 26.5% for the year ending in March. In many cases, that slowdown is showing up in the form of concessions: Nearly 40%... Read more
Rents are still rising nationwide, but at a slower pace than in years past. Plus, income is now growing at a faster pace and the slowdown is relieving some renters of...
Incomes are rising faster than rents nationwide, putting an extra $193 a month back in renters’ pockets The typical U.S. asking rent was $1,910 in March, up 1.8%...
KEY TAKEAWAYS Two-bedroom apartments posted the largest year-over-year rent decline at 1.7%. Overall multifamily rents have fallen for over 30 consecutive months...
Residents are gaining more than a place to live at Arbor 515 in Salt Lake City. The new development—a conversion of a former office building—provides 96 affordable...
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