Up for a bit of a battle of the boroughs? With many New Yorkers on the move right now looking for new places to live, we have to wonder–which borough do they seem to be flocking to?
And, just in time, RentCafe’s rental activity report has given us our answer.
According to their June report, the Bronx, NYC’s most affordable borough, found its way to the #14 spot in this month’s ranking, making it the most sought-after borough in NYC for renters.
The Bronx is the Northeast’s highest-ranking location at #14 after climbing three spots since last month. New York City’s most affordable borough saw an impressive 46% year-over-year decline in the number of apartments available for rent, reflecting high demand from renters. Traffic on listings pages for the borough rose by nearly 50%, and the number of apartments favorited by renters doubled in that same timeframe.
And not too far behind the Bronx came Queens which, though it fell a few spots compared to last month, ranked at #25 overall–making it NYC’s second most sought-after borough.
In fact, while Manhattan had an increase in demand this month, Queens actually surpassed Manhattan’s rental activity for June, with Manhattan not even finding itself in the top 30.
Looks like if you’re planning to move any time soon, the Bronx and Queens should both be on your list!
To calculate these numbers, RentCafe’s research team analyzed rental listing data across the 150 largest cities by population in the U.S. The cities were ranked according to four metrics–availability rate, page views, favorites, and saved searches–along with their averages as of the most current month in 2023 versus the same month in 2022.
The full study can be found here.