Manhattan rents rise .9% in September: Report
Although average Manhattan rental prices went up slightly last month, apartment hunters are still going to need a bigger wallet and search harder for available space.
A report issued Thursday by the real estate group MNS found that rents for all types of apartments went up .9 % from August to September.
The rise in rents were less than $100 for both studios and one-bedrooms, however, the report found that it represented an 7.2% and 2.4% increase respectively since last year.
At the same time, the amount of available inventory decreased 5.8% especially in the Upper East Side, Upper West Side and Soho.
Despite the low number of apartments in the Upper West Side, MNS said the neighborhood is great for bargain hunters since the average rent decreased $38 last month. Midtown East also saw a similar decrease in rental prices.