The Bowery, in lower Manhattan, has gone from a decaying and unsavory place to one of the hippest, edgiest, and most desirable neighborhoods in Lower Manhattan, attracting an influx of new renters. A massive amount of new residential development has reshaped the area's skyline, and high-rise rental apartment complexes like The Chrystie at 229 Chrystie Street are in high demand by renters looking for a luxury apartment for rent in the Bowery. With so many new rental properties, it's no surprise that new residents have been flooding into the neighborhood and that trendy new shops and restaurants have followed suit, creating a bustling entertainment and nightlife scene. The area is especially popular amongst young New Yorkers, who have moved to the area in droves. They've been drawn in by a mixture of the Bowery's unique character, central location (which offers residents better subway access than the neighboring East Village and LES), and attractive real estate prices (compared to other downtown hotspots like Soho, Noho and Greenwich Village).

If you want to live in the area, you'll have fewer options than in other, larger neighborhoods. Still, you'll find a bit of everything here, from older pre-war buildings with relatively cheap apartments to high-end new rental properties with luxurious no-fee apartments. The Bowery will continue to flourish as this part of Downtown Manhattan is particularly popular with millennial renters as it provides residents convenient access to the best New York City has to offer. As with any neighborhood on the upswing, that will mean higher rents as more and more new residents move into the area.