> there are 57,000 unoccupied apartments in NYC
That's about 2.4% of the total number of rented apartments, and about 1.5% of the total housing stock.
How long do you think those apartments are unoccupied, on average?
What portion of the stock do you think would normally be healthy to have on the market?
Prices are set at the margin.
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Google tells me that this number includes units on the market between tenants. I would quite like there to be a nonzero number of units available for rent if I move.
What's a healthy vacancy rate in your opinion, and what do you make of NYC having a lower rate than the average American city?