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Old 12-01-2016, 06:24 PM
 
236 posts, read 181,605 times
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Surprised by Astoria only showing $2200 on this chart. Figured it's still an attractive option outside of Manhattan for people, and so I imagined that the rate would be much higher.
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Old 12-01-2016, 11:33 PM
 
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wait til they actually stay in EH after a while...whooosah
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Old 12-02-2016, 12:54 AM
 
894 posts, read 391,147 times
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I still cannot believe that the average cost of a one bedroom in any neighborhood is now over $1200. This is insane because incomes have not risen that drastically.
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Old 12-02-2016, 05:29 AM
 
Location: Northeast states
10,332 posts, read 7,234,812 times
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Quote:
Originally Posted by LOVEROFNYC View Post
I still cannot believe that the average cost of a one bedroom in any neighborhood is now over $1200. This is insane because incomes have not risen that drastically.
Supply & Demand
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Old 12-02-2016, 06:10 AM
Status: "I am in preparation mode!" (set 6 days ago)
 
5,514 posts, read 5,499,127 times
Reputation: 4210
I can't believe the rent in Williamsburg is 3000. I don't get it. If I had money, I would live in Brooklyn Heights. I wish this map included all of Brooklyn.
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Old 12-02-2016, 06:22 AM
 
Location: Manhattan
20,139 posts, read 26,425,454 times
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I see no point in calling something "median rent" when that is real estate-speak for median rent of the top 10% of new construction.
Median means MEDIAN and it is not $2300 in East Harlem. If an area has a lot of "affordable" apartments (80/20's and Mitchell-Lamas), why should they not be counted when ascertaining area rents.
So many of these articles have one function and one function only: to soften the blow of high rents for new tenants in faux-luxury buildings. I guess agents got tired of hearing tenants say "You gotta be F-ing KIDDING me" and then running for the elevator when they hear the rent quote.
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Old 12-02-2016, 07:38 AM
 
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Quote:
Originally Posted by Kefir King View Post
I see no point in calling something "median rent" when that is real estate-speak for median rent of the top 10% of new construction.
That's not what they are claiming. They are saying these are median rents for what is currently listed. To me, this is much more useful than knowing what bargain-basement prices someone might pay if they get extremely lucky after being on some waiting list for Mitchell Lama, or if they have been living in the same rent stabilized place for 20 years.

I have always hated the articles or the info that has given the TRUE median rents of a place that include these places that no newcomer has a chance in hell of getting.
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Old 12-02-2016, 08:15 AM
 
Location: Manhattan
20,139 posts, read 26,425,454 times
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Quote:
Originally Posted by Henna View Post
They are saying these are median rents for what is currently listed. .

Henna, I believe that is what they MEAN, but they certainly didn't say it clearly which would have been easy to do.
In fact the Headline on the chart said precisely "Median 1 bedroom rent, Fall 2016."
Seems they were trying their best to obfuscate what they were saying or not saying.
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Old 12-02-2016, 08:50 AM
 
23,252 posts, read 16,063,944 times
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Quote:
Originally Posted by Henna View Post
That's not what they are claiming. They are saying these are median rents for what is currently listed. To me, this is much more useful than knowing what bargain-basement prices someone might pay if they get extremely lucky after being on some waiting list for Mitchell Lama, or if they have been living in the same rent stabilized place for 20 years.

I have always hated the articles or the info that has given the TRUE median rents of a place that include these places that no newcomer has a chance in hell of getting.
But that's misleading in another way. If someone doesn't know NYC, seeing such a high median rent might make East Harlem seem well off. Of course the reality is that it FULL of HOUSING PROJECTS. Ditto the LES.
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Old 12-02-2016, 08:57 AM
 
10,605 posts, read 20,739,640 times
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Originally Posted by NyWriterdude View Post
But that's misleading in another way. If someone doesn't know NYC, seeing such a high median rent might make East Harlem seem well off. Of course the reality is that it FULL of HOUSING PROJECTS. Ditto the LES.
Well, ok, they may both feel misleading. But their audience is people who are trying to rent an apartment afresh, not people in housing projects who pay $440 per month and aren't going anywhere ever, nor are their kids, grandkids and great grandkids because their deal is too good to leave.

Also, the website offering the data states clearly where they are compiling the data, and that is from current listings. I quoted it and linked it above. It would have been nice if they put this info in a more prominent place, but the fact is, if you look for it, you can find it within one minute.

So if they say the (real) median rent in East Harlem is $980 per month, and then when apartment seekers see all the listing rents are $2200 or $2800, who is going to feel misled then?
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