New York is the 3rd largest multifamily market with 576,629 completed units and 132,398 units in development, 32,658 of which have already broken ground, as of December 2021.
New York Multifamily Market Summary – December 2021
New lease asking rents are at $3,905, up 14.1%▲
from the previous year placing New York at 37th
overall in year-over-year rent growth.
