{"id":700,"date":"2021-04-19T09:00:24","date_gmt":"2021-04-19T09:00:24","guid":{"rendered":"https:\/\/www.renthop.com\/content-manager\/?post_type=studies&#038;p=14073"},"modified":"2021-04-19T09:01:32","modified_gmt":"2021-04-19T13:01:32","slug":"nyc-1br-rents-are-dropping-at-most-major-mta-stops","status":"publish","type":"post","link":"https:\/\/www.renthop.com\/research\/nyc-1br-rents-are-dropping-at-most-major-mta-stops\/","title":{"rendered":"NYC 1BR Rents Are Dropping At Most Major MTA Stops"},"content":{"rendered":"<div style = \"width: 100%; max-width: 750px; height: auto; margin-right: auto; margin-left: auto; text-align: center\">\n<figure id=\"attachment_14075\" aria-describedby=\"caption-attachment-14075\" style=\"width: 900px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-14075\" src=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2021\/04\/new-york-668616_1920-300x200.jpg\" alt=\"\" width=\"900\" height=\"600\" \/><figcaption id=\"caption-attachment-14075\" class=\"wp-caption-text\">Courtesy of Pixabay.com<\/figcaption><\/figure>\n<\/div>\n<p>New Yorkers living in one-bedroom apartments may be able to save some money should they decide to renew their lease.<\/p>\n<p>That&#8217;s according to RentHop data scientist <strong>Shane Lee<\/strong> who mapped out rental prices for one-bedroom apartments by subway stop. Here\u2019s what she discovered for the period of Jan. 1, 2021 and March 31, 2021:<\/p>\n<ul>\n<li>Rents decreased at 418 out of 473 stops across all train lines.<\/li>\n<li>That\u2019s 88% of the stops we tracked.<\/li>\n<li>Rents increased at just 35 stops in the past year.<\/li>\n<li>Median rent dipped 23% around Lincoln Center \u2014 a short walk from the AMSTRDM where one-bedroom prices dropped over 20% year-over-year (scroll down for more info).<\/li>\n<li>Median rent slid more than 21% at two Delacey St.\/Essex St. stops near the F, J, M and Z lines.<\/li>\n<li>That\u2019s close to The Adele \u2014 310 E 2nd Street, New York, NY 10009 \u2014 which is currently offering 2 months free on a 12-month lease.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h4><strong>RentHop also whipped up an interactive map showing all rents, stops, and YoY price fluctuations:<\/strong><\/h4>\n<p>&nbsp;<br \/>\n<button onClick =\"embedPopup()\" button = \"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2021\/04\/2021-nyc-subway-median-rent-map.html\" class=\"button button1\" style=\"display: block; margin-right:0; margin-left: auto\">Get the code to embed this interactive map!<\/button><\/p>\n<div style=\"position: relative; overflow: hidden; max-width: 960px; width: 100%; margin-left: auto; margin-right: auto;\">\n<div style=\"padding-bottom: 67%; height: 0px; position: relative; width: 100%;\">\n<div style=\"position: absolute; height: 100%; width: 100%;\" align=\"center\"><iframe loading=\"lazy\" src=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2021\/04\/2021-nyc-subway-median-rent-map.html\" width=\"100%\" height=\"100%\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"><br \/>\n<\/iframe><\/div>\n<\/div>\n<\/div>\n<p><script>\nfunction embedPopup() {\n    alert('<iframe loading=\"lazy\" src=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2021\/04\/2021-nyc-subway-median-rent-map.html\" width=\"100%\" height=\"555px\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"><\/iframe>');\n}\n<\/script><br \/>\n&nbsp;<\/p>\n<p>The <strong>top 5 biggest rent drops<\/strong> on one-bedroom apartments occurred at the following stops:<\/p>\n<ul>\n<li>66th St.\/Lincoln Center \u2014 1\/2 trains ($3,100; YoY -23%)<\/li>\n<li>Delancey St.\/Essex St. \u2014 F train ($2,495; YoY -21.9%)<\/li>\n<li>81st St. \u2014 A\/B\/C trains ($2,500; YoY -21.8%)<\/li>\n<li>Forest Ave. \u2014 M train ($1,800; YoY -21.7%)<\/li>\n<li>Delancey St.\/Essex St. \u2014 J\/M\/Z ($2,500; YoY -21.3%)<\/li>\n<\/ul>\n<p>With this in mind, apartment hunters would be wise to check RentHop for listings in and around this area \u2014 especially the 66th St. stop in Manhattan. The AMSTRDM (pictured below) over at 166 West 75th Street, for example, saw a median 1BR rent dropped over 20% year-over-year, has no-fee apartments and offers up to 3 months free.<\/p>\n<div style = \"width: 100%; height: auto; max-width: 600px; margin-right: auto; margin-left: auto; text-align: center\"><figure id=\"attachment_14074\" aria-describedby=\"caption-attachment-14074\" style=\"width: 600px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-14074\" src=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2021\/04\/800x800-300x200.jpg\" alt=\"AMSTRDM\" width=\"600\" height=\"400\" \/><figcaption id=\"caption-attachment-14074\" class=\"wp-caption-text\">Courtesy of The Corcoran Group<\/figcaption><\/figure><\/div>\n<p>&nbsp;<\/p>\n<p>Of the 35 stops where rent increased, these were the<strong> top 5 stops that saw the largest uptick<\/strong>:<\/p>\n<ul>\n<li>167th St. \u2014 B\/D trains ($1,795; YoY 5.6%)<\/li>\n<li>238th St. \u2014 1 train; $1,890 (YoY 5.2%)<\/li>\n<li>Far Rockaway\/Mott Ave. \u2014 A train ($1,673; YoY 4.6%)<\/li>\n<li>New Lots Ave. \u2014 3\/4 trains ($1,724 YoY 4.5%)<\/li>\n<li>183rd St and Fordham Rd. \u2014 4 train ($1,775; YoY 4.4%)<\/li>\n<\/ul>\n<p>&nbsp;<br \/>\nRentHop also discovered that 20 subway stops in Manhattan experienced no rent change. So if you\u2019re landlord won\u2019t cut you a break on the heels of the Covid-19 pandemic, consider these options:<\/p>\n<p>Apartments located around the 34th Street-Herald Square stop \u2014 a major transportation hub with B\/D\/F\/M\/N\/Q\/R\/W trains \u2014 have rents that hover $3,200 a month, giving it a year-over-year decrease of 13.5%.<\/p>\n<p>Over in Union Square, near 14th Street \u2013 where the 4\/5\/6 trains are in close proximity to the N\/Q\/R\/W \u2014 rents saw a year-over-year decrease of more than 20%.<br \/>\n&nbsp;<\/p>\n<h5><strong>Median 1BR Rents at Major NYC Subway Hubs<\/strong><\/h5>\n<p>&nbsp;<\/p>\n<ul>\n<li>Bowling Green \u2014 4\/5 trains ($3,100; YoY -17.6%)<\/li>\n<li>Times Sq. &#8211; 42nd St. \u2014 1\/2\/3 trains ($3,036; YoY -15.7%)<\/li>\n<li>Grand Central \u2014 4\/5\/6 trains ($3,040; YoY -15.6%)<\/li>\n<li>Fulton St. \u2014 2\/3 trains ($3,250; YoY -15.3%)<\/li>\n<li>Fulton St. \u2014 A\/C trains ($3,250; YoY -14.9%)<\/li>\n<li>Fulton St. \u2014 4\/5 trains ($3,250; YoY -14.5%)<\/li>\n<\/ul>\n<p>&nbsp;<br \/>\nThe trend isn&#8217;t exclusive to Manhattan. Many stops in Brooklyn \u2014 including hotspots Williamsburg and Bushwick \u2014 also saw rents drop for one-bedroom apartments:<\/p>\n<ul>\n<li>Bedford Ave. \u2014 L train stop ($3,097; YoY -13.6%)<\/li>\n<li>Metropolitan Ave. \u2014 G train ($3,000, YoY -13.8 percent)<\/li>\n<li>Central Ave. \u2013 M train ($2,000 YoY -18.4 percent)<\/li>\n<li>Jay St.\/Metrotech \u2014 A\/C\/F ($3,162; YoY -11.3%)<\/li>\n<li>Atlantic Ave.\/Barclay&#8217;s Center \u2014 2\/3\/4\/5 ($2,850; YoY -14.8%)<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h4><strong>Methodology<\/strong><\/h4>\n<p>&nbsp;<br \/>\nTo calculate the median net effective rents for the map above, we used RentHop\u2019s rental data for one-bedroom apartments from Jan 1 through March 31, 2020 &amp; 2021, MTA Lines and Stops data, and GIS data for subway stops compiled by CUNY \u2013 Baruch College.<\/p>\n<p>To get accurate prices near the subway stops, we surveyed at least 50 non-duplicated rental listings within half a mile of a subway stop and then calculated the median rents. If there were less than 50 non-duplicated listings, we expanded the distance to 1 mile of a subway stop.<\/p>\n<p>Outside of New York, we illustrated a similar trend. Last month, RentHop reported that one-bedrooms near the Boston T <a href=\"https:\/\/www.renthop.com\/studies\/boston\/live-near-the-t-boston-1br-rents-plummet-at-105-stops\">also saw significant rent drops<\/a>.<br \/>\n&nbsp;<\/p>\n<h4><strong>Tell Your Friends! Here\u2019s A Condensed Map for Easy Sharing<\/strong><\/h4>\n<p>&nbsp;<\/p>\n<figure id=\"attachment_6008\" aria-describedby=\"caption-attachment-6008\" style=\"width: 900px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2021\/04\/2021-nyc-subway-median-rent-map-hi-res.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" class=\"wp-image-6008\" title=\"Boston 2019 MBTA Rent Map\" src=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2021\/04\/2021-nyc-subway-median-rent-map-static-scaled.jpg\" alt=\"\" width=\"900\" height=\"auto\" \/><\/a><figcaption id=\"caption-attachment-6008\" class=\"wp-caption-text\"><strong>Click on the Map For High Resolution<\/strong><\/figcaption><\/figure>\n<style>\n.button1 {box-shadow: 0 0 0 0 rgba(0,0,0,0.2), 0 0 0 0 rgba(0,0,0,0.19);}\n.button {   background-color: #810303; border: none; color: #ffffff; padding: 5px 15px; text-align: center; text-decoration: none; display: inline-block; font-size: 14px; font-weight: bold; margin:4px 2px; cursor: pointer; -webkit-transition-duration: 0.4s; transition-duration: 0.4s;}<\/style>\n","protected":false},"excerpt":{"rendered":"<p>New Yorkers living in one-bedroom apartments may be able to save some money should they decide to renew their lease. That&#8217;s according to RentHop data scientist Shane Lee who mapped out rental prices for one-bedroom apartments by subway stop. Here\u2019s what she discovered for the period of Jan. 1, 2021 and March 31, 2021: Rents [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":704,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"yes","_lmt_disable":"","footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-700","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-insights"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.4 (Yoast SEO v24.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NYC 1BR Rents Are Dropping At Most Major MTA Stops - Real Estate Data &amp; Research<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.renthop.com\/research\/nyc-1br-rents-are-dropping-at-most-major-mta-stops\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NYC 1BR Rents Are Dropping At Most Major MTA Stops\" \/>\n<meta property=\"og:description\" content=\"New Yorkers living in one-bedroom apartments may be able to save some money should they decide to renew their lease. That&#8217;s according to RentHop data scientist Shane Lee who mapped out rental prices for one-bedroom apartments by subway stop. Here\u2019s what she discovered for the period of Jan. 1, 2021 and March 31, 2021: Rents [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.renthop.com\/research\/nyc-1br-rents-are-dropping-at-most-major-mta-stops\/\" \/>\n<meta property=\"og:site_name\" content=\"Real Estate Data &amp; Research\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/renthopapartments\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-19T09:00:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-19T13:01:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.renthop.com\/research\/wp-content\/uploads\/sites\/2\/2021\/04\/2021-nyc-subway-1br-median-map-yoy-1024x668.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"668\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Alex Pena\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@renthop\" \/>\n<meta name=\"twitter:site\" content=\"@renthop\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alex Pena\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.renthop.com\/research\/nyc-1br-rents-are-dropping-at-most-major-mta-stops\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.renthop.com\/research\/nyc-1br-rents-are-dropping-at-most-major-mta-stops\/\"},\"author\":{\"name\":\"Alex Pena\",\"@id\":\"https:\/\/www.renthop.com\/research\/#\/schema\/person\/c7609a88744ec97a92e007d1d10d3d93\"},\"headline\":\"NYC 1BR Rents Are Dropping At Most Major MTA Stops\",\"datePublished\":\"2021-04-19T09:00:24+00:00\",\"dateModified\":\"2021-04-19T13:01:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.renthop.com\/research\/nyc-1br-rents-are-dropping-at-most-major-mta-stops\/\"},\"wordCount\":692,\"publisher\":{\"@id\":\"https:\/\/www.renthop.com\/research\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.renthop.com\/research\/nyc-1br-rents-are-dropping-at-most-major-mta-stops\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.renthop.com\/research\/wp-content\/uploads\/sites\/2\/2021\/04\/2021-nyc-subway-1br-median-map-yoy.png\",\"articleSection\":[\"Market Insights\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.renthop.com\/research\/nyc-1br-rents-are-dropping-at-most-major-mta-stops\/\",\"url\":\"https:\/\/www.renthop.com\/research\/nyc-1br-rents-are-dropping-at-most-major-mta-stops\/\",\"name\":\"NYC 1BR Rents Are Dropping At Most Major MTA Stops - Real Estate Data &amp; 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