YES Danielle Hale, chief economist
The economist describes increasing affordability pressure on renters.
“For renters hoping to save for a down payment, the squeeze is coming from both directions,”
U.S. Office · NYC & SF
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Aug 7, 2026Nov 1, 2026
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YES Danielle Hale, chief economist
The economist describes increasing affordability pressure on renters.
“For renters hoping to save for a down payment, the squeeze is coming from both directions,”
YES Hubble
Queens asking rents rose 6% quarter over quarter.
“Meanwhile, Queens represented a bright spot in terms of asking rent appreciation. Prices here grew by 6% between Q2 and Q3, bringing the borough’s current average asking rate to $44.00 per square foot.”
YES JLL's Matt Astrachan
Middle-tier asking rents rose substantially.
“Middle-tier space that asked about $75 per square foot a year ago is now priced near $125, he said, and some occupiers cannot sustain that.”
YES Victor Rodriguez, senior director of market analytics at CoStar Group
The source explicitly expects rents to continue rising.
“I expect rents and occupancy to continue moving upward. It won’t be at the same pace we’ve seen over the past two years, but overall the fundamentals remain strong.”