Rent price increase in NYC in 2024?
Above 2%
Yes
Above 2%
Yes
Above 3%
Yes
Above 3%
Yes
Above 3.87%
Yes
Above 3.87%
Yes
Above 5%
No
Above 5%
No
Rules summary for
Above 2%
If rent in NYC grows by more than 2 in 2024 (December 2023 : December 2024), then the market resolves to Yes. Outcome verified from Zillow.
The market shall and close and expire at the first 10:00 AM ET following the release of the data for 2024 (December 2023 : December 2024). Data is expected to be released on the third Thursday of the month following the target month. Expiration value: 3.9Timeline and payout
About
New York City's rental market has seen significant changes in recent months. According to a report by Zumper, one-bedroom rentals in NYC surged 18% in February compared to the previous year, reaching $4,200, while median rents in Jersey City increased by 5.4% to $3,140. In contrast, a report by StreetEasy found that the median asking rent in Manhattan for February 2024 fell 4.6% compared to February 2023, driven by slowing demand and higher vacancy rates. Overall, the average rental price in Manhattan increased by 1.35% from March to April 2024, with varying trends across different neighborhoods.
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