Manhattan Now Very Mildly Less Hellish Place to Rent

Good news! Manhattan vacancy rates have eased very slightly. Back in May, the vacancy rate in Manhattan was .89%, which is crazytown. Now it’s a relatively luxurious 1.19%. That means that of the 841,000 or so housing units in Manhattan, there are nearly 10,000 vacant apartment for you to choose from. (Only half of them are “essentially uninhabitable” and/or “grody”!)

The “average” Manhattan rent is now $3,461. (Average doesn’t mean “median.”) But vacancy rates are very much distributed by rental price: the higher the price, the more likely a unit is to be vacant—and the vacancy rate upping is generally, if a bit unscientifically, considered to be people balking at inappropriately elevated rents. August makes for the sixth consecutive monthly record for rent prices. ENJOY.