Quoted in Brick Underground: NYC Rents Surged in January, a Likely Sign of Record Highs to Come

Brick Underground’s February 12 report spotlights how the city’s winter rental market didn’t cool off in January – and suggests spring pricing may start from an even higher baseline. Drawing on the latest rental data, the piece breaks down how rents, listings, and lease activity across Manhattan, Brooklyn, and Queens are shaping up as competition stays fierce and inventory remains tight.

“Even if more units come to market in the spring, demand will outpace supply. Summer rents typically climb a few hundred dollars from winter levels, so if this trend holds, we could see new record highs again.”
– Rachel Fiegler, Co-Founder & CEO, Pinpointe Group

Reading the January Trends

Across all three boroughs, rent metrics – median, average, and per square foot – moved higher in January, even as listings sank year-over-year and new lease signings remained flat or declined. Manhattan’s median rent hit the third-highest level on record, with Brooklyn and Queens also seeing strong year-over-year growth and persistent upward pressure. These patterns show that if supply doesn’t loosen soon, apartment hunters are likely to face even steeper pricing ahead.

Pinpointe POV

Data beats seasonal folklore. Even in what’s typically a slower leasing month, rents didn’t retreat – and landlords are still finding ways to tighten inventory by aligning lease expirations with spring and summer demand. We’re advising clients to benchmark total cost expectations not just on headline rents, but on how timing and market rhythm can influence pricing. Staying ready early, viewing competitively priced units quickly, and understanding neighborhood trends will be even more critical this leasing season.

Read the full article on Brick Underground.

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