NYC's rent may decrease in one borough in 2024, StreetEasy study reveals

NEW YORK (PIX11) - Rent across New York City reached sky-high prices in 2023 and for renters looking to save next year, a StreetEasy study predicts rent to unexpectedly decrease in one borough.

The study forecasts rent prices across the city next year to stay the same as in 2023. However, rent may decrease in Manhattan in 2024.

"As inventory rises further next year, citywide rent growth will slow, although a sharp drop is unlikely due to still-limited inventory compared to pre-pandemic levels," the study revealed.