One of the most affluent and fashionable areas of New York City is the Upper East Side. People living here are among the richest and most influential individuals of America. Artists like Woody Allen, Madonna, former president John F. Kennedy's family, a host of other celebrity film personalities, and authors make this area of the city their home. Even many of the foreign embassies and diplomatic missions are located in this part of NYC. Understandably, Upper East Side apartment rentals are among the costliest and most sought after in New York.
People seeking rental apartments in the Upper East Side of NYC are not ordinary renters. You must be earning a substantial income to live here. In fact, this area is not among New York City's most popular rental areas. This is primarily because most people seeking rental apartments are students or working individuals who can not afford to buy good housing of their own in NYC. Still, it's not impossible to get Upper East Side apartment rentals for people who might want them for some luxury and pride.
Rental rates in NYC are very high because this is one of the busiest and costliest cities of North America and very possibly USA's most popular city. Most of the commerce happening in the US and the world happens from the blamed Wall Street. Art and culture is nurtured in Broadway at its famous theaters. Here, locales like the prestigious Upper East Side are among the priciest areas of USA.
In 2009, the median rate for rent in NYC was about $ 3,000 per month. In 2010, the rise was about 30% when the median rate rose to a monthly $ 3,800. The expected 2011 figures could well exceed $ 4,000! The reason for this phenomenal hike in prices in NYC was because of the rest of stability in the economy post recession. With new jobs opening up with hicked salads, people have more spending power. There is increased demand for rental apartments because people began relocating in or moving back to the city.
Understanding that NYC is a costly city, the Upper East Side apartment rentals are obviously very high. The rent for a good apartment here may well exceed $ 5,000 a month! In the rental business, agents and brokers raise costs with their responsibilities and fees. The Internet has given a new platform for people seeking rentals by making information transparent and cheap. While a broker would never tell you all the details to raise prices and fees, online rental listings are most accurate and clear. It is also much easier to look for multiple options online, because a broker will have fewer apartments to rent out.