Apartment Rentals in NYC at an All Time High

The summer of 2012 is seeing less than 1 percent vacancy rates for rentals, which according to Citihabitats is averaging $3,418 per month. These prices now surpass the pre-2007 crash. With a lack of new rental units to hit the market coupled with a tight credit market, renters are feeling stuck and without options.

My advice: If you find something you like, put an application in right away. Apartments that are a good value are hard to come by and will not last.