Good yields on studios in New York
Last Updated: Jun 15, 2017 | |||||
NEW YORK MANHATTAN - condos and co-ops | COST (US$) | YIELD (p.a.) | PRICE/SQ.M. (US$) | ||
TO BUY | MONTHLY RENT | TO BUY | MONTHLY RENT | ||
Studio | 514,114 | 2,689 | 6.28% | 10,151 | 59.31 |
1 br | 933,811 | 3,436 | 4.15% | 13,498 | 54.79 |
2 br | 2,037,340 | 4,942 | 2.91% | 17,191 | 56.30 |
3 br | 4,192,730 | 8,497 | 2.43% | 22,239 | 64.59 |
4+ br | 9,866,070 | n.a. | n.a. | 32,260 | n.a. |
Upper East Side co-ops and condos | |||||
Studio | 458,035 | n.a. | n.a. | 9,569 | n.a. |
1-BR | 900,657 | n.a. | n.a. | 12,670 | n.a. |
2-BR | 1,913,897 | n.a. | n.a. | 16,975 | n.a. |
3-BR | 3,519,365 | n.a. | n.a. | 19,150 | n.a. |
4+BR | 7,024,033 | n.a. | n.a. | 24,672 | n.a. |
Upper West Side co-ops and condos | |||||
Studio | 500,306 | n.a. | n.a. | 10,097 | n.a. |
1-BR | 841,561 | n.a. | n.a. | 11,787 | n.a, |
2-BR | 1,837,605 | n.a. | n.a. | 16,792 | n.a. |
3-BR | 3,347,850 | n.a. | n.a. | 20,000 | n.a. |
4+BR | 7,455,682 | n.a. | n.a. | 27,815 | n.a. |
Soho and Tribeca co-ops and condos | |||||
Studio | 475,000 | n.a. | n.a. | 9,171 | n.a. |
1-BR | 1,475,199 | n.a. | n.a. | 15,867 | n.a. |
2-BR | 2,977,086 | n.a. | n.a. | 18,741 | n.a. |
3-BR | 6,513,413 | n.a. | n.a. | 26,943 | n.a. |
4+BR | 11,551,514 | n.a. | n.a. | 34,166 | n.a. |
The Hamptons | |||||
Condos | 969,453 | n.a. | n.a. | n.a. | n.a. |
1-3 BR Family homes | 1,766,557 | n.a. | n.a. | n.a. | n.a. |
Luxury homes | 6,691,021 | n.a. | n.a. | n.a. | n.a. |
FLORIDA | |||||
Miami Beach luxury condos sq. m. | 4,164,699 | n.a. | n.a. | 14,295 | n.a. |
Palm Beach luxury homes sq. m. | 12,675,000 | n.a. | n.a. | 23,563 | n.a. |
Source: Miller Samuel Aggregate Data for Q1 2017 Definitions: Data FAQ See also: Update Schedule |
Manhattan property has held up well through the crisis and beyond.
How much will you earn? Studio apartments will earn relatively more than one-bedroom apartments (in terms of return-on-investment), and those in turn will earn relatively more than two-bedroom houses, etcetera. To earn higher returns, buy smaller units.
- a studio apartment can rent for around $2,700 per month, earning a rental yield of around 7%
- a 1-bedroom apartment can rent for around $3,500 per month, earning a rental yield of around 4.4%
- Larger units earn proportionately lower returns. A 3-bedroom apartment is likely to earn a rental yield of around 2.4%
Round-trip transaction costs are moderate for buyers of U.S. residential property. See our U.S. residential property transaction costs analysis.
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