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Luxury apartments are now cheaper than standard apartments in these NYC neighborhoods

By
Rebecca Fontana
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Yes, rent prices are going up, but no, it’s not all bad news! Check out this new RentHop map showing the median rents of NYC neighborhoods for both luxury and non-luxury buildings. (Luxury is defined as high-rises with a doorman or fitness center.)

Here’s the good news: The rent of luxury apartments actually fell in 24 neighborhoods. Overall, prices dropped in trendy neighborhoods like Chelsea and Williamsburg as hipsters finally get priced out, and Manhattan as a whole saw a drop in average rent. Also, this is super important to note: Some luxury apartments' rent is actually cheaper than non-luxury apartments' rent. In neighborhoods like Tribeca and West Harlem, studio apartments are cheaper in luxury buildings than in standard buildings. 

As for the bad news, the places with the highest rent increase include Bed-Stuy and East Harlem, the latter most likely due to the new Second Avenue subway

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