Rental Rates Are Heading Up

Graphic via Wall Street Journal

The city’s big real estate firms are starting to release their second quarter rental reports.   A Citi-Habitats survey shows rents are edging up, as the market tries to shake off the recession blues. Citywide, rents rose around 10% in the past year. Here on the Lower East Side, an average one bedroom rented for about $2300 last month.  You can read more about the Citi-Habitats report and a similar survey from Prudential Douglas Elliman in the Wall Street Journal and on Curbed.