But that doesn't mean landlords have been increasing prices. In fact, new data reveals there have actually been more discounts.found that rentals of all price ranges listed on the website were seeing larger and more frequent price cuts in May.
In May, 24% of NYC rentals received discounts, up from 14.9% in May 2019. In addition, StreetEasy found the discounts were larger, averaging 7.9% of the typical asking rent, up from 4.8% last year.that measured the price change in active rental listings from May 1 to May 31. The report found that, on average, active rental listings with price adjustments in Manhattan saw decreases, complementing StreetEasy's findings.
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Rents will continue to plummet as the mass exodus is already underway
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