NYC Rental Market Flooded As Coronavirus Pandemic Lingers

NEW YORK CITY — Apartment hunters, you’re not wrong to think that New York City has more listings during the coronavirus pandemic.

The city’s rental listings in July hit the highest level in 10 years of data compiled by StreetEasy, a local real estate platform.

There were roughly 67,000 listings citywide that month, of which 37,000 were in Manhattan, according to the data.

Compare that to the same point last year — the city had 44,000 total listings, with about 23,000 in Manhattan.

The listings data adds to other studies showing city’s rental and real estate markets have been hit hard by the coronavirus crisis. Much of it — such as a record-breaking spike in sublets — appears tied to New Yorkers fleeing the city.

Paying rent is a big concern for thousands of New Yorkers who lost jobs or wages during the coronavirus pandemic. “Cancel rent” has become a rallying cry.

But for New Yorkers lucky enough to escape hardship it appears they have more and — slightly cheaper — options for apartments.

The typical rent in Manhattan dipped to $3,200 a month in July from $3,500 the year before, according to StreetEasy data.