New York City Furnished Apartment Market Report - 1st Half 2008
New York Furnished Apartments
Sizes & Lengths of Stay
Furnished Apartments rented by type 1st half 2008
Three Bedrooms or larger 5%
Two Bedroom 15%
Studio One Bedroom Two Bedroom
Three Bedrooms or larger
One Bedroom 57%
The graph above shows the size of apartment booked. The ratio of the furnished rentals are quite steady at just over 20% of rental being studios, just under 60% being 1 bedroom rentals and about 20% of rentals representing two bedroom rentals and larger. We have seen that over the past 4 years the percentages have stayed right in the same area with just 1-2% fluctuations.
The average length of rentals in the 1st half for the furnished rental department has also re- mained stable with rental lengths averaging 84 days in 2006, 85 days in 2007 and 83 days in 2008. We see this stability because many of the 1st half bookings are summer rentals which tend to be 2-3 months, either June to August or July to August.
Section II: New York Furnished Apartments
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