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The median asking rent rose 1.7 percent year over year in July. One expert said the pool of new apartments is shrinking while demand for rentals is growing.
Just 1 in 8 owners would be swayed by further restrictions or levies; most would leave their properties empty rather than convert them to long-term rentals.
In Wichita, Kansas, $1,500 rents a 1,329 square feet apartment, while in Manhattan, the same amount gets just 216 square feet—smaller than a typical studio.
The median asking rent rose 1.7 percent year over year in July. One expert said the pool of new apartments is shrinking while demand for rentals is growing.
Just 1 in 8 owners would be swayed by further restrictions or levies; most would leave their properties empty rather than convert them to long-term rentals.
In Wichita, Kansas, $1,500 rents a 1,329 square feet apartment, while in Manhattan, the same amount gets just 216 square feet—smaller than a typical studio.