United States: House Prices, Rents, and Rental Yields
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Last Updated: Jun 22, 2008
New York yields poor at 4.3%
| Last Updated: Jun 22, 2008 | |||||
| UPPER MANHATTAN -Apartments | COST (US$) | YIELD (p.a.) | PRICE/SQ.M. (US$) | ||
| TO BUY | MONTHLY RENT | TO BUY | MONTHLY RENT | ||
| 60 sq. m. | 722,940 | 3,595 | 5.97% | 12,049 | 59.91 |
| 100 sq. m. | 1,410,800 | 5,318 | 4.52% | 14,108 | 53.18 |
| 140 sq. m. | 2,196,180 | 7,759 | 4.24% | 15,687 | 55.42 |
| 180 sq. m. | 3,126,600 | 10,897 | 4.18% | 17,370 | 60.54 |
| 220 sq. m. | 4,261,840 | 15,880 | 4.47% | 19,372 | 72.18 |
| 275 sq. m. | 5,520,350 | 20,424 | 4.44% | 20,074 | 74.27 |
| 400 sq. m. | 14,122,400 | n.a | n.a | 35,306 | n.a |
| LOWER MANHATTAN - Apartments | |||||
| 60 sq. m. | 779,820 | 3,281 | 5.05% | 12,997 | 54.68 |
| 100 sq. m. | 1,489,000 | 5,615 | 4.53% | 14,890 | 56.15 |
| 140 sq. m. | 2,190,860 | 8,256 | 4.52% | 15,649 | 58.97 |
| 180 sq. m. | 3,104,280 | 10,296 | 3.98% | 17,246 | 57.20 |
| 220 sq. m. | 3,716,460 | 12,041 | 3.89% | 16,893 | 54.73 |
| 275 sq. m. | 5,410,625 | 16,992 | 3.77% | 19,675 | 61.79 |
| 400 sq. m. | 8,562,800 | 17,472 | 2.45% | 21,407 | 43.68 |
| Districts researched: Upper Manhattan: Upper East Side, Upper West Side Lower Manhattan: Chelsea, Greenwich Village, Soho, Tribeca Source: Global Property Guide |
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Yields in Upper Manhattan average at 4.6%. Gross rental income on apartments does not go beyond 5%, except for units with 60 sq. m that generate a yield of 5.97%, way higher than other apartment sizes. Lower Manhattan yields aren't good, either. In fact, they are even lower than in Upper Manhattan with an average of 4%. Apartments with 60 sq. m still earn more at 5.05%.
Rental earnings have slightly increased with the fall of property prices. Upper Manhattan apartments sell for an average of US$19,138 per sq. m, with a 60-sq. m unit selling at US$12,049 per sq. m. With an average of US$16,965 per sq. m, apartments in Lower Manhattan are cheaper than in Upper Manhattan. The difference in price can be seen in bigger apartments.
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Your Comments
posted by Dzuljastri | 2007-09-09
University lecturer/researcher, Malaysia
Thank you very much. I found that your website has illustrated a comprehensive data of property in the US. It is indeed useful for my research. Keep it up !, Regards, Dzul
posted by Charles | 2008-03-15
Business Owner, Greenwich, Connecticut
U.S. rental yields low to moderate.On your chart about properties rental yields in Manhattan. The high month maintenance was not accounted for.Is there a chart that takes the high monthly maintenance into account?http://www.globalpropertyguide.com/North-America/United-States/Rental-Yields