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United States: House Prices, Rents, and Rental Yields

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

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.

 

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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