Insights
New York
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VACANCY
Distribution / Warehousing
Average Vacancy Rate 7.7%
- Drifted upward by 20 basis points.
- Expected to finish 2019 at.
RENT
Distribution / Warehousing
Average Asking Rent $5.69
- Up 0.2% from year-end 2018.
- Expected to finish 2019 at.
VACANCY
Apartment
The average Vacancy Rate was 3.6% in the Buffalo metro
- No vacancy change since Q2 2022 in the Buffalo metro.
- The Buffalo metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 3.5% in the Buffalo metro.
Distribution / Warehousing
The average Vacancy Rate was 2.6% in the Buffalo metro
- Vacancy in the Buffalo metro drifted upward by 40 basis points.
- Vacancy is expected to finish 2022 at 2.3% in the Buffalo metro.
Office
The average Vacancy Rate was 14.2% in the Buffalo metro
- Vacancy in the Buffalo metro drifted upward by 10 basis points.
- The Buffalo metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 14.8% in the Buffalo metro.
Retail
The average Vacancy Rate was 13.0% in the Buffalo metro
- Vacancy in the Buffalo metro drifted downward by 20 basis points.
- The Buffalo metro had the lowest vacancy level since Q2 2018.
- Vacancy is expected to finish 2022 at 12.9% in the Buffalo metro.
RENT
Apartment
The average Asking Rent was $1,112 in the Buffalo metro
- Rent in the Buffalo metro was up 2.7% from Q2 2022.
- Rent is expected to finish 2022 at $1,116 in the Buffalo metro.
Distribution / Warehousing
The average Asking Rent was $6.79 in the Buffalo metro
- Rent in the Buffalo metro was up 1.8% from Q2 2022.
- Rent Has risen for seven consecutive quarters in the Buffalo metro.
- Rent is expected to finish 2022 at $6.88 in the Buffalo metro.
Office
The average Asking Rent was $18.46 in the Buffalo metro
- Rent in the Buffalo metro was down 0.8% from Q2 2022.
- Rent is expected to finish 2022 at $18.54 in the Buffalo metro.
Retail
The average Asking Rent was $12.53 in the Buffalo metro
- The Buffalo metro remained flat rent since Q2 2022.
- Rent is expected to finish 2022 at $12.56 in the Buffalo metro.
VACANCY
Apartment
The average Vacancy Rate was 3.9% in the Long Island market
- Vacancy in the Long Island market drifted upward by 10 basis points.
- Vacancy is expected to finish 2022 at 4.0% in the Long Island market.
Distribution / Warehousing
The average Vacancy Rate was 2.8% in the Long Island market
- Vacancy in the Long Island market has been in decline for six consecutive quarters.
- The Long Island market was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 2.5% in the Long Island market.
Flex / R&D
The average Vacancy Rate was 1.1% in the Long Island market
- The Long Island market had the lowest vacancy in the Northeast region, third lowest in the nation.
- Vacancy in the Long Island market drifted downward by 40 basis points.
- The Long Island market had the lowest vacancy level since Q3 2009.
Office
The average Vacancy Rate was 13.4% in the Long Island market
- The Long Island market had the fifth lowest vacancy in the nation and the fourth lowest in the Northeast.
- Vacancy in the Long Island market drifted upward by 20 basis points.
- Vacancy is expected to finish 2022 at 13.6% in the Long Island market.
Retail
The average Vacancy Rate was 8.7% in the Long Island market
- Vacancy in the Long Island market drifted upward by 10 basis points.
- The Long Island market was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 8.6% in the Long Island market.
RENT
Apartment
The average Asking Rent was $2,568 in the Long Island market
- Rent in the Long Island market was up 2.4% from Q2 2022.
- Rent is expected to finish 2022 at $2,582 in the Long Island market.
Distribution / Warehousing
The average Asking Rent was $9.21 in the Long Island market
- Rent in the Long Island market was up 4.2% from Q2 2022.
- Rent Has risen for nine consecutive quarters in the Long Island market.
- Rent is expected to finish 2022 at $9.48 in the Long Island market.
Flex / R&D
The average Asking Rent was $12.69 in the Long Island market
- Rent in the Long Island market was up 4.7% from Q2 2022.
- Rent Has risen for six consecutive quarters in the Long Island market.
- Rent is expected to finish 2022 at $13.15 in the Long Island market.
Office
The average Asking Rent was $28.21 in the Long Island market
- Rent in the Long Island market was up 0.1% from Q2 2022.
- Rent is expected to finish 2022 at $28.34 in the Long Island market.
Retail
The average Asking Rent was $28.71 in the Long Island market
- The Long Island market remained flat rent since Q2 2022.
- Rent is expected to finish 2022 at $28.80 in the Long Island market.
VACANCY
Apartment
The average Vacancy Rate was 3.5% in the New York Metro
- The New York Metro had the tenth lowest vacancy in the nation and the eleventh lowest in the Northeast.
- Vacancy in the New York Metro drifted downward by 10 basis points.
- Vacancy is expected to finish 2022 at 3.6% in the New York Metro.
Distribution / Warehousing
The average Vacancy Rate was 0.9% in the New York Metro
- The New York Metro had the lowest vacancy in the Northeast region, fifth lowest in the nation.
- Vacancy in the New York Metro drifted downward by 10 basis points.
- The New York Metro had the lowest vacancy level since Q1 2017.
Office
The average Vacancy Rate was 11.1% in the New York Metro
- The New York Metro had the lowest vacancy in the Northeast region, third lowest in the nation.
- Vacancy in the New York Metro drifted upward by 10 basis points.
- The New York Metro had the highest vacancy level since year-end 2010.
RENT
Apartment
The average Asking Rent was $4,247 in the New York Metro
- Rent in the New York Metro was up 3.2% from Q2 2022.
- Rent Has risen for six consecutive quarters in the New York Metro.
- Rent is expected to finish 2022 at $4,253 in the New York Metro.
Distribution / Warehousing
The average Asking Rent was $20.03 in the New York Metro
- Rent in the New York Metro was up 1.9% from Q2 2022.
- New York Metro had its fastest rent rate of increase since Q1 2017.
- Rent Has risen for eight consecutive quarters in the New York Metro.
Office
The average Asking Rent was $74.69 in the New York Metro
- Rent in the New York Metro was up 0.9% from Q2 2022.
- Rent is expected to finish 2022 at $75.02 in the New York Metro.
VACANCY
Apartment
The average Vacancy Rate was 2.0% in the Rochester metro
- The Rochester metro had the sixth lowest vacancy in the nation and the fifth lowest in the Northeast.
- Vacancy in the Rochester metro drifted upward by 10 basis points.
- Vacancy is expected to finish 2022 at 2.1% in the Rochester metro.
Distribution / Warehousing
The average Vacancy Rate was 2.3% in the Rochester metro
- Vacancy in the Rochester metro fell by 60 basis points.
- The Rochester metro had the lowest vacancy level since Q1 2017.
- Vacancy is expected to finish 2022 at 2.1% in the Rochester metro.
Office
The average Vacancy Rate was 17.8% in the Rochester metro
- Vacancy in the Rochester metro drifted downward by 20 basis points.
- The Rochester metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 18.7% in the Rochester metro.
Retail
The average Vacancy Rate was 13.0% in the Rochester metro
- No vacancy change since Q2 2022 in the Rochester metro.
- The Rochester metro had the lowest vacancy level since Q3 2018.
- Vacancy is expected to finish 2022 at 13.0% in the Rochester metro.
RENT
Apartment
The average Asking Rent was $1,234 in the Rochester metro
- Rent in the Rochester metro was up 3.3% from Q2 2022.
- Rent Has risen for seven consecutive quarters in the Rochester metro.
- Rent is expected to finish 2022 at $1,241 in the Rochester metro.
Distribution / Warehousing
The average Asking Rent was $6.33 in the Rochester metro
- Rent in the Rochester metro was up 2.4% from Q2 2022.
- Rochester metro had its fastest rent rate of increase since Q1 2017.
- Rent is expected to finish 2022 at $6.42 in the Rochester metro.
Office
The average Asking Rent was $17.59 in the Rochester metro
- Rent in the Rochester metro was down 0.1% from Q2 2022.
- Rent is expected to finish 2022 at $17.66 in the Rochester metro.
Retail
The average Asking Rent was $13.95 in the Rochester metro
- The Rochester metro remained flat rent since Q2 2022.
- Rent is expected to finish 2022 at $13.96 in the Rochester metro.
VACANCY
Apartment
The average Vacancy Rate was 3.1% in the Syracuse metro
- The Syracuse metro had the eighth lowest vacancy in the nation and the seventh lowest in the Northeast.
- Vacancy in the Syracuse metro drifted downward by 40 basis points.
- The Syracuse metro had the lowest vacancy level since Q3 2016.
Distribution / Warehousing
The average Vacancy Rate was 2.3% in the Syracuse metro
- Vacancy in the Syracuse metro fell by 80 basis points.
- The Syracuse metro had the lowest vacancy level since Q1 2017.
- Vacancy is expected to finish 2022 at 2.2% in the Syracuse metro.
Office
The average Vacancy Rate was 13.6% in the Syracuse metro
- The Syracuse metro had the ninth lowest vacancy in the nation and the eighth lowest in the Northeast.
- No vacancy change since Q2 2022 in the Syracuse metro.
- The Syracuse metro had the lowest vacancy level since Q3 1999.
Retail
The average Vacancy Rate was 16.0% in the Syracuse metro
- Vacancy in the Syracuse metro drifted downward by 10 basis points.
- Vacancy is expected to finish 2022 at 15.8% in the Syracuse metro.
RENT
Apartment
The average Asking Rent was $1,099 in the Syracuse metro
- Rent in the Syracuse metro was up 2.2% from Q2 2022.
- Rent is expected to finish 2022 at $1,105 in the Syracuse metro.
Distribution / Warehousing
The average Asking Rent was $4.43 in the Syracuse metro
- Rent in the Syracuse metro was up 2.3% from Q2 2022.
- Syracuse metro had its fastest rent rate of increase since Q1 2017.
- Rent Has risen for nine consecutive quarters in the Syracuse metro.
Office
The average Asking Rent was $16.71 in the Syracuse metro
- The Syracuse metro remained flat rent since Q2 2022.
- Rent is expected to finish 2022 at $16.76 in the Syracuse metro.
Retail
The average Asking Rent was $13.27 in the Syracuse metro
- Rent in the Syracuse metro was up 0.1% from Q2 2022.
- Rent is expected to finish 2022 at $13.31 in the Syracuse metro.
VACANCY
Apartment
The average Vacancy Rate was 7.1% in the Westchester metro
- Vacancy in the Westchester metro increased by 50 basis points.
- The Westchester metro had the highest vacancy level since year-end 2004.
- Vacancy is expected to finish 2022 at 7.0% in the Westchester metro.
Distribution / Warehousing
The average Vacancy Rate was 5.4% in the Westchester metro
- Vacancy in the Westchester metro drifted downward by 10 basis points.
- The Westchester metro had the lowest vacancy level since Q1 2017.
- Vacancy is expected to finish 2022 at 4.9% in the Westchester metro.
Office
The average Vacancy Rate was 24.1% in the Westchester metro
- Vacancy in the Westchester metro drifted upward by 40 basis points.
- The Westchester metro had the highest vacancy level since Q2 2018.
- Vacancy is expected to finish 2022 at 24.4% in the Westchester metro.
Retail
The average Vacancy Rate was 10.7% in the Westchester metro
- No vacancy change since Q2 2022 in the Westchester metro.
- The Westchester metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 10.5% in the Westchester metro.
RENT
Apartment
The average Asking Rent was $2,870 in the Westchester metro
- Rent in the Westchester metro was up 1.1% from Q2 2022.
- Rent Has risen for six consecutive quarters in the Westchester metro.
- Rent is expected to finish 2022 at $2,883 in the Westchester metro.
Distribution / Warehousing
The average Asking Rent was $11.41 in the Westchester metro
- Rent in the Westchester metro was up 2.5% from Q2 2022.
- Westchester metro had its fastest rent rate of increase since Q3 2017.
- Rent Has risen for eight consecutive quarters in the Westchester metro.
Office
The average Asking Rent was $30.40 in the Westchester metro
- The Westchester metro remained flat rent since Q2 2022.
- Rent is expected to finish 2022 at $30.60 in the Westchester metro.
Retail
The average Asking Rent was $38.84 in the Westchester metro
- The Westchester metro remained flat rent since Q2 2022.
- Rent is expected to finish 2022 at $38.89 in the Westchester metro.