NEW YORK (CBSNewYork) — The coronavirus pandemic continues to affect the Manhattan real estate market.

According to StreetEasy, the median rent has fallen below $3,000. That is the lowest price since 2011.

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The third quarter of 2020 also marked the first time since 2010 that Manhattan, Brooklyn and Queens all recorded year-over-year rent declines.

StreetEasy says renters are no longer willing to pay the so-called “commute premium” of living in Manhattan, because so many people are working from home.

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Comments (2)
  1. Hannah says:

    People are afraid of NYC – looters, crime, De Blasio who supports criminals (oops sorry – should be “peaceful protestors” ). Rich people left, their state tax is gone, as well as city tax – who is going to support those full time protestors who destroy the city? Plus so-called “celebrities” with security guards constantly repeat that white people are bad… Well, so now you can see the city under the BLM/”peaceful protestors” control – you play stupid game, you win stupid prize.

  2. MAR100-Nevada says:

    Wait until the mob burns and loots the city after the election. A once great city dies because of city leadership when the kayos ends, rents will be in the $1,500 to $2,000 rate a month.

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