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NYC skyline New York City skyline/ (image courtesy of CoStar)

NEW YORK CITY—New York has more than 60,000 units under construction and that’s the most out of any city that CoStar Group tracks. Even with the Big Apple growing at a rate of 50,000 people per year, due to construction, the vacancy rate of apartments has stayed approximately the same—never exceeding 4% or going much lower than 2%. This dates back to when CoStar began collecting this information in 1994.

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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