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Slow, sustainable growth in Manhattan rents during this cycle – versus historical Boom & Bust

  • ​​Much has been said about the length of the current cycle and how much longer it could last. Compared with previous boom and bust cycles, Manhattan rents have grown at a far more even pace since 2010, suggesting a sharp decline in the next downturn is unlikely.
  • Manhattan office rents have seen a compound annual growth rate of 4.5 percent during the current expansion, compared with 13.8 and 13.5 percent in the expansion periods leading to 2000 and 2008, respectively. 
  • Manhattan has seen positive rent growth in 18 of the last 23 years, an indication that any possible decline in rents will be short lived.​

Source: JLL Research

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