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Show HN: An interactive dashboard to explore NYC rentals data

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Re: Show HN: An interactive dashboard to explore NYC rentals data

#11

Post by chimeracoder »

msukkarieh wrote: post #4

I've never lived in NYC - are median studio apts in West Village really $6k? Website looks awesome but I'm hoping that the data isn't true

> I've never lived in NYC - are median studio apts in West Village really $6k? Website looks awesome but I'm hoping that the data isn't true

The West Village is one of the most expensive neighborhoods in the country. In around 2010, it was the most expensive zip code in the country.

That's due to a combination of: old buildings, very little new construction, extremely gentrified neighborhood, and NYU eating up all of the real estate in the neighborhood.

That said, the map is slightly mislabeled: what's labeled as the West Village is actually Greenwich Village, and the West Village is a subset of that. This map labels places as far east as Astor Place as the West Village, which is not correct.

Re: Show HN: An interactive dashboard to explore NYC rentals data

#12

Post by reactordev »

msukkarieh wrote: post #4

I've never lived in NYC - are median studio apts in West Village really $6k? Website looks awesome but I'm hoping that the data isn't true

Ever since sex and the city of the 90s, rent in NYC has skyrocketed more than anywhere else in the world. $6k is cheap. There’s places that are $20k…

(no correlation with the show, just ironic)

Re: Show HN: An interactive dashboard to explore NYC rentals data

#14

Post by jeffbee »

reactordev wrote: post #12
msukkarieh wrote: post #4

I've never lived in NYC - are median studio apts in West Village really $6k? Website looks awesome but I'm hoping that the data isn't true

Ever since sex and the city of the 90s, rent in NYC has skyrocketed more than anywhere else in the world. $6k is cheap. There’s places that are $20k… (no correlation with the show, just ironic)

Not sure why you are dating it there. For one thing, housing prices in NY fell from 2007-2012 so it hasn't been monotonic since the 90s to today. Secondly, housing costs in NY tripled from 1980-1988, which is the same ratio as 2000-2025, but in a third the time.

Re: Show HN: An interactive dashboard to explore NYC rentals data

#15

Post by personjerry »

cuuupid wrote: post #3

The average 2br rent for the last 2 years was $4,536 The average for the last month is is $5,738 This is a 25%+ increase, let's say around 10% of that can be accounted for via seasonal increases. The almost certain incoming mayor has pushed for rent stabilization/control/freeze. Let's assume this restricts increases to 10% Y/Y similar to cities like Seattle, this would cause at least a 5% recessionary pressure for ho…

> let's say around 10% of that can be accounted for via seasonal increases.

Summer inflation is much more than that

Re: Show HN: An interactive dashboard to explore NYC rentals data

#16

Post by reactordev »

jeffbee wrote: post #14
reactordev wrote: post #12

Earlier quoted context omitted.

Ever since sex and the city of the 90s, rent in NYC has skyrocketed more than anywhere else in the world. $6k is cheap. There’s places that are $20k… (no correlation with the show, just ironic)

Not sure why you are dating it there. For one thing, housing prices in NY fell from 2007-2012 so it hasn't been monotonic since the 90s to today. Secondly, housing costs in NY tripled from 1980-1988, which is the same ratio as 2000-2025, but in a third the time.

I know, I’m joking about the tv series having anything to do with it. In reality, it’s because NYC is a city that never sleeps, financial markets call home, immigrants land there, it’s a city of opportunity and the rents reflect that. It’s been going up and up since 1900s.

My tongue in cheek joke was because most of the audience here doesn’t really know NYC history (they should, it’s fascinating) and doesn’t understand that a young quant hedge fund person has no problems paying $10k/mo in rent for a shoebox they’ll never be in. Just to have the NYC address, to be able to work within NYC. Any sane person would look towards Staten Island or Jersey, but even then the rent prices along the transit lines are double what’s available further out.

But I could be wrong and all the history buffs will rebuke me with facts about how commissioners in the 50s did this or that, or that some policy in the 70s created it.

Re: Show HN: An interactive dashboard to explore NYC rentals data

#17

Post by rprend »

I think it’s important to note that this is asking rent, not what people are paying on average. Landlords do tricks to make rental history appear more expensive than it was, and every online posting should be read as aspirational price, not a real one. Listing inflation helps increase price expectations for the future, and has helped drive the crazy rent inflation NYC has seen post covid (exceeding other expensive metros like SF).

For example- my current apartment had a crazy high lease concession. The paper rent is 30% higher than what I pay. The only inconvenience is that i had to pay a security deposit at the paper rent, not actual rent. It’s like a software business giving 2 months free then multiplying MRR by 12, not taking churn into account. I am moving out after a year.

Re: Show HN: An interactive dashboard to explore NYC rentals data

#19

Post by colechristensen »

rprend wrote: post #17

I think it’s important to note that this is asking rent, not what people are paying on average. Landlords do tricks to make rental history appear more expensive than it was, and every online posting should be read as aspirational price, not a real one. Listing inflation helps increase price expectations for the future, and has helped drive the crazy rent inflation NYC has seen post covid (exceeding other expensive me…

I wish lease concessions were also illegal. They've always come with extra gotchas to get them which wouldn't be included in a normal lease, and like you say, encourage this false history.

Re: Show HN: An interactive dashboard to explore NYC rentals data

#20

Post by underlipton »

rprend wrote: post #17

I think it’s important to note that this is asking rent, not what people are paying on average. Landlords do tricks to make rental history appear more expensive than it was, and every online posting should be read as aspirational price, not a real one. Listing inflation helps increase price expectations for the future, and has helped drive the crazy rent inflation NYC has seen post covid (exceeding other expensive me…

This is a widespread issue and one of the sources of the major dislocation between theory (supply-and-demand) and practice (rents effectively never drop, on paper). It needs to be outlawed. If you have to lower your rate, you (should) have to actually lower your rate. The rent is (should be) what tenants pay, full stop.
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