Rent rises on New York apartments to help struggling tenants cover rent

Rents for New York’s most expensive apartments rose more than 5% in February, bringing the average price for a three-bedroom apartment to $1,068 a month, according to data released Wednesday by the state Housing Authority.In a statement, the Housing Authority said its rental market is “at a critical crossroads.”The agency, which oversees the city’s rental […]

US rent increases set to accelerate next year

US rents will increase 7.5% next year, the biggest jump since December, as the economy grows faster than anticipated.The Bureau of Labor Statistics said Wednesday that rents for the median rent-controlled apartment increased 6.4% to $1,054, while for owner-occupied units, rents increased 2.4%.The average monthly rent for the second quarter of 2017 was $1.15, up […]