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News Most expensive rental markets New York City --and not just Manhattan has by far
the highest rents of any of the 52 major apartment rental markets
around the nation, according to the report published at Wednesday. At year's end, the average estimated monthly rent
for all of New York 's five boroughs was $2,553, according to
Marcus & Millichap, a real estate investment broker based
in California . The average for the second most expensive city,
San Francisco, was a comparative fire sale at $1,685. New Yorkers and everyone else shouldn't expect much
better in 2007. Marcus & Millichap forecasts a 6.5% rise in
the asking price of rents during the year in the New York and a
4.3% rise nationally. In the three years that will end December 31, 2007,
the company forecasts that the average rent in the United States
will have increased by 14%, far faster that the rate of inflation.
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