I
n a city that never sleeps, surprisingly, silence reigns in many homes. Manhattan now boasts the highest percentage of vacant residences across New York City, with an estimated 1,400 apartments – about 1.2% of its housing inventory – lying empty, according to Attom's third-quarter analysis.

    This figure has remained relatively stable compared to last year and closely mirrors the national vacancy rate of 1.3%. Manhattan tops the city in empty homes, surpassing The Bronx and far outpacing Brooklyn and Queens. While Brooklyn appears more vacant with a larger number of unoccupied units, its overall vacancy ratio aligns with the city average.

    The Bronx follows closely behind Manhattan with a vacancy rate of 1.1%, highlighting pockets of underuse amidst New York's broader housing crunch. In contrast to Brooklyn, which holds the largest share of empty homes overall, Attom's analysis shows Manhattan has the highest vacancy rate among boroughs.

    In Manhattan, neighborhood contrasts are stark. ZIP code 10012, including Soho and the East Village, boasts a staggering 4.3% of residences sitting empty – more than triple the citywide average. According to appraiser Jonathan Miller, this is due in part to higher residential construction and conversions in these areas.

    However, other neighborhoods are nearly vacant, with Staten Island's Great Kills and Queens' Jackson Heights boasting vacancy rates close to zero. Despite this, demand for city living remains fierce, particularly when it comes to renting. Manhattan recently ranked among the five most competitive rental markets in the country, with new leases commanding a record median rent of $4,625 in June.