COMMERCIAL REAL ESTATE'S ECONOMIC ADVISORS

Rent growth has been broadly felt across New York City since 2020, but five ZIP codes stand out. Led by Brooklyn and Bronx neighborhoods, each saw asking rents rise by more than 50%.

Many current development targets require rates to fall, which the market is no longer expecting.

This week’s Rental Housing Weekly Briefing examines Yardi Matrix’s latest multifamily market data and the May jobs report, with both pointing to steady demand but continued pressure from elevated rates and soft rent growth.