Bad news, renters. The Upper West Side has only gotten more expensive in the past year. New data from RENTCafe shows that all four zip codes in the neighborhood have seen increases, ranging from 0.5% to 9.9%.
RENTCafe also did a nationwide survey, looking for the zip codes with the priciest rents, and found that the Upper West Side accounts for a disproportionate number of them. Yes, even more than L.A. and San Francisco. The only spots in the city with higher rents, on average, are downtown zip codes 10282 and 10013.
The rents are averages, measuring all apartment sizes. RENTCafe looked at 17 million apartments across the country.
One recent theory about why rents continue to rise is that all the luxury condos now being built are too expensive even for most wealthy people. So those wealthy people are renting, and are thus pushing up prices for rentals. ”