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Jun 29, 2016

Good yields on studios in New York


Last Updated: Jun 29, 2016
NEW YORK MANHATTAN - condos and co-ops COST (US$) YIELD (p.a.) PRICE/SQ.M. (US$)
TO BUY MONTHLY RENT TO BUY MONTHLY RENT
Studio 460,701 2,672 6.96% n.a. n.a.
1 br 948,820 3,456 4.37% n.a. n.a.
2 br 2,211,955 5,078 2.75% n.a. n.a.
3 br 4,316,554 8,451 2.35% n.a. n.a.
4+ br 6,936,912 n.a. n.a. n.a. n.a.
Districts researched:
New York Upper Manhattan: Upper East Side, Upper West Side
New York Lower Manhattan: Chelsea, Greenwich Village, Soho, Tribeca
Miami : Coral Gables, Key Biscane
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule

Manhattan property has held up well through the crisis and beyond.

How much will you earn?  Studio apartments will earn relatively more than one-bedroom apartments (in terms of return-on-investment), and those in turn will earn relatively more than two-bedroom houses, etcetera. To earn higher returns, buy smaller units.

  • a studio apartment can rent for around $2,700 per month, earning a rental yield of around 7%
  • a 1-bedroom apartment  can rent for around $3,500 per month, earning a rental yield of around 4.4%
  • Larger units earn proportionately lower returns.  A 3-bedroom apartment is likely to earn a rental yield of around 2.4%

Round-trip transaction costs are moderate for buyers of U.S. residential property. See our U.S. residential property transaction costs analysis.






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