Rent Hikes as Much as 41% Drive Renters Out of Their Homes

Remember the early days of the pandemic, when thousands of people fled from big cities? Well, times have changed, and landlords are looking to make up for cutting rents in 2020 and 2021. When Gabbie Fried moved into her one-bedroom apartment on Manhattan’s Upper West Side, she got a “pandemic special” rent of $1,945 per month. One year later, the landlord hiked the rent 41% to $2,745. She’s far from alone. In New York City, rents are up 33% during the last year, twice the national average.