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United States: House Prices, Rents, and Rental Yields

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Last Updated: Jul 28, 2009

Manhattan earnings moderate

Last Updated: Jul 28, 2009
NEW YORK UPPER MANHATTAN - Apartments COST (US$) YIELD (p.a.) PRICE/SQ.M. (US$)
TO BUY MONTHLY RENT TO BUY MONTHLY RENT
70 sq. m. 823,550 3,133

4.57%

 11,765 44.76
120 sq. m. 1,945,920 6,078 3.75% 16,216 50.65
180 sq. m. 3,032,280 10,003 3.96% 16,846 55.57
250 sq. m. 5,336,250 n.a. n.a. 21,345 n.a.
500 sq. m. 12,270,000 n.a. n.a. 24,540 n.a.
NEW YORK LOWER MANHATTAN - Apartments
70 sq. m. 748,020 3,415 5.48% 10,686 48.79
120 sq. m. 1,616,880 6,042 4.48% 13,474 50.35
180 sq. m. 2,372,220 8,806 4.45% 13,179 48.92
250 sq. m. 3,759,250 n.a. n.a. 15,037 n.a.
450 sq. m. 585,900 n.a. n.a. 1,302 n.a.
MIAMI - Condominiums/townhomes
50 sq. m. 328,550 1,437 5.25% 6,571 28.73
85 sq. m. 457,895 2,173 5.70% 5,387 25.57
120 sq. m. 836,280 3,436 4.93% 6,969 28.63
150 sq. m. 983,850 4,044 4.93% 6,559 26.96
200 sq. m. 1,739,000 6,730 4.64% 8,695 33.65
300 sq. m. 2,436,300 10,077 4.96% 8,121 33.59
MIAMI - Condominiums/townhomes (Aventura)
75 sq. m. 185,625 1,176 7.60% 2,475 15.68
120 sq. m. 331,440 1,931 6.99% 2,762 16.09
150 sq. m. 387,300 2,364 7.32% 2,582 15.76
200 sq. m. 652,000 3,350 6.17% 3,260 16.75
300 sq. m. 1,232,700 5,616 5.47% 4,109 18.72
420 sq. m. 2,070,180 n.a. n.a. 4,929 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, Residential part of South Beach
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule

The fundamental things apply, as time goes by  – to make good money, do NOT buy the highest-quality properties. Smaller properties, in less prestigious areas, perform better.  Less enjoyable maybe – but they earn more. 

The most lucrative apartments in our Manhattan sample are 70 sq m.-sized Lower Manhattan apartments, which yield 5.48%. Apartments in Lower Manhattan have average yields of around 4.81%, while yields on apartments in Upper Manhattan average 4.09%.   Apartments in Lower Manhattan are cheaper by no less than US$7,406 per square metre (sq. m)., compared to Upper Manhattan apartments.

In Miami things are a little better. Rental yields in gritty Aventura average 6.71%, better than in Miami’s more upscale areas, where yields average 5.07%.  The cost of Aventura properties is, of course, much lower (at US$3,353 per sq. m.), than that of property in Miami’s upscale areas (US$7,050 per sq. m.).  

Downmarket, cheaper – more profit.  Play it again, Sam.

 

 

United States - more data and information

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

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