Rent prices are out of control in New York City following the tumultuous economic consequences of the COVID-19 pandemic.
As median rent prices rose 33% between January of 2021 and January of this year, more and more New Yorkers are struggling with the reality that they may not be able to call the city home for much longer.
When prices for apartments fell dramatically during the COVID-19 pandemic, many tenants thought they had found the opportunity of a lifetime. Two years later, these same apartments are now subject to skyrocketing rents, making it impossible for current tenants to continue to afford their homes.