NYC Rent Growth Persists as Renter Mobility Hits Historic Lows
News Corporation - Class A (NWSA)
Last news corporation - class a earnings: 2/6 04:45 pm
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Source: PR Newswire
With nearly 90% of renters stuck in place, Mayor Mamdani's looming rent freeze for stabilized units could further tighten the NYC rental marketAUSTIN, Texas, Feb. 4, 2026 /PRNewswire/ -- New York City's tough rental market has entered a new phase defined by renters staying in place. While rents continued their upward climb in the final quarter of 2025, reaching a median of $3,585 (up 6.6% from the prior) the city is now grappling with a lack of turnover that is leaving new households with limited options, according to the Q4 2025 NYC Rental Report from Realtor.com®.The report highlights a market where nearly 90% of New York City renters remained in the same unit they occupied a year ago, a rate far exceeding the national average of 78.4%. In some boroughs, the immobility is even more stark: in the Bronx, 93.7% of renters stayed in place in 2024, with a median move-in year of 2015."New York City's rental market is effectively locked in place," said Danielle Hale, chief economist at Rea
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