{"id":576,"date":"2022-07-01T16:14:00","date_gmt":"2022-07-01T20:14:00","guid":{"rendered":"https:\/\/blog.openigloo.com\/?p=576"},"modified":"2023-03-03T12:08:14","modified_gmt":"2023-03-03T17:08:14","slug":"new-york-lease-renewals-july-2022","status":"publish","type":"post","link":"https:\/\/blog.openigloo.com\/new-york-lease-renewals-july-2022\/","title":{"rendered":"New York Lease Renewals July 2022"},"content":{"rendered":"\n
New York Lease Renewals in July 2022, rent increases on lease renewals<\/span><\/a> for market-rate apartments in NYC averaged 11.2%. Despite renewal increases cooling slightly since earlier this year, rent increases are still double what they were during the same period in 2021. In July, 2% of renewals were over 51% which is the same as last month – a good indication that the occurrences of these steep renewals are on the decline. 60% of July renewals experienced an increase of less than 10%. Notably, there was less discrepancy in rent<\/a> increases between boroughs. The average increase in renewals in Manhattan was 10%, Brooklyn at 11%, and Queens at 12%.<\/p>\n\n\n\n