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TABLE 1 - Equation for Predicting Mean Monthly Gross Market Rent


         

Description of Regressors


Coefficient


Standard Error

t-Ratio


P>|t|


No Problems with External Walls 12.059 26.872 0.449 0.654
No Problems with Windows -23.178 24.369 -0.951 0.342
No Problems with Floors -11.486 14.812 -0.775 0.438
Condition of Building - Sound 39.125 47.016 0.832 0.405
Condition of Building - Deteriorating 17.571 46.812 0.375 0.707
No Broken or Boarded Up Windows 53.665 15.104 3.553 0.000
Moved Into Unit 1981-1985 70.734 21.119 3.349 0.001
Moved Into Unit 1986-1990 170.417 17.667 9.646 0.000
Moved Into Unit 1991 180.803 22.455 8.052 0.000
Moved Into Unit 1992 193.695 20.606 9.400 0.000
Moved Into Unit 1993 189.832 18.437 10.296 0.000
Moved Into Unit 1994 205.708 18.270 11.259 0.000
Moved Into Unit 1995 229.996 17.307 13.289 0.000
Moved Into Unit 1996 204.195 22.679 9.004 0.000
2 Units in Building -131.728 21.034 -6.263 0.000
3 Units -140.331 23.720 -5.916 0.000
4 or 5 Units -136.157 24.621 -5.530 0.000
6 to 19 Units -268.674 37.916 -7.086 0.000
20 to 49 Units -207.030 48.372 -4.280 0.000
50 to 99 Units -62.567 52.666 -1.188 0.235
100 Units or More -83.092 54.035 -1.538 0.124
2 Stories in Building 21.349 39.592 0.539 0.590
3 Stories 25.722 41.237 0.624 0.533
4 Stories 60.758 45.601 1.332 0.183
5 Stories 56.318 57.946 0.972 0.331
6 to 10 Stories 81.209 63.422 1.280 0.200
11 to 20 Stories 107.717 71.375 1.509 0.131
21 Stories or More 273.913 70.974 3.859 0.000
2 Other Rooms in Unit 68.190 15.053 4.530 0.000
3 Other Rooms 104.085 17.113 6.082 0.000
4 to 6 Other Rooms 178.155 28.228 6.311 0.000
1 Bedroom in Unit 178.902 24.140 7.411 0.000
2 Bedrooms 289.897 25.208 11.500 0.000
3 Bedrooms 415.629 26.589 15.631 0.000
4 to 5 Bedrooms 465.137 37.205 12.502 0.000
Building Built 1970-1979 22.682 27.939 0.812 0.417
Building Built 1960-1969 -58.092 23.181 -2.506 0.012
Building Built 1947-1959 -79.581 25.714 -3.095 0.002
Building Built 1930-1946 -106.215 22.819 -4.655 0.000
Building Built 1920-1929 -103.622 22.868 -4.531 0.000
Building Built 1901-1919 -107.438 24.093 -4.459 0.000
Building Built 1900 or Earlier -61.265 29.314 -2.090 0.037
Exclusive Plumbing Facilities 57.100 44.846 1.273 0.203
Exclusive Kitchen Facilities 2.970 46.200 0.064 0.949
2 or More Stories with Elevator -14.486 43.234 -0.335 0.738
Kingsbridge Heights, Mosholu, Riverdale, Kingsbridge, Williamsbridge, Baychester 55.123 37.314 1.477 0.140
Soundview, Parkchester, Throgs Neck, Co-op City, Pelham Parkway 30.543 34.500 0.885 0.376
Williamsburg, Greenpoint -19.247 42.680 -0.451 0.652
Brooklyn Heights, Fort Greene, Park Slope,Carroll Gardens 200.597 37.998 5.279 0.000
Bedford Stuyvesant, Bushwick -11.367 37.121 -0.306 0.759
East New York, Starret City, Brownsville, Ocean Hill -8.529 36.289 -0.235 0.814
Sunset Park -9.978 40.785 -0.245 0.807
North Crown Heights, Prospect Heights, South Crown Heights 64.133 38.637 1.660 0.097
Bay Ridge 15.787 41.261 0.383 0.702
Bensonhurst 36.528 37.260 0.980 0.327
Borough Park -1.709 38.471 -0.044 0.965
Coney Island, Sheepshead Bay, Gravesend 68.145 36.637 1.860 0.063
Flatbush, East Flatbush 48.418 36.742 1.318 0.188
Flatlands, Canarsie 89.730 39.123 2.294 0.022
Greenwich Village, Financial District 738.374 46.677 15.819 0.000
Lower East Side, Chinatown 102.337 76.108 1.345 0.179
Chelsea, Clinton, Midtown, Stuyvesant Town, Turtle Bay 647.118 42.478 15.234 0.000
Upper West Side, Upper East Side 690.239 43.296 15.942 0.000
Morningside Heights, Hamilton Heights, Central Harlem, East Harlem, Washington Heights, Inwood 188.923 47.170 4.005 0.000
Astoria 94.730 36.074 2.626 0.009
Sunnyside, Woodside 75.020 42.410 1.769 0.077
Jackson Heights 98.816 37.824 2.613 0.009
Elmhurst, Corona 139.219 40.633 3.426 0.001
Middle Village, Ridgewood 33.501 36.571 0.916 0.360
Forest Hills, Rego Park 162.805 43.891 3.709 0.000
Flushing, Whitestone 144.569 36.328 3.979 0.000
Hillcrest, Fresh Meadows 118.494 41.533 2.853 0.004
Kew Gardens, Woodhaven 4.024 39.696 0.101 0.919
Howard Beach, South Ozone Park, Rockaways 89.569 37.819 2.368 0.018
Bayside, Little Neck 125.082 46.126 2.712 0.007
Jamaica 15.335 40.341 0.380 0.704
Bellerose, Rosedale 155.618 41.045 3.791 0.000
North Shore 66.321 38.860 1.707 0.088
Mid-Island 41.638 42.795 0.973 0.331
South Shore 4.549 46.796 0.097 0.923
         
         
Intercept 211.210 82.174 2.570 0.010
Coefficient of Determination 0.498
Standard Error 228.380
Number of Observations 2805

NOTE. -- A value of 1 for No Problems with External Walls indicates there is no missing brick, siding, or other outside wall material, no sloping or bulging of the outside walls, no major cracks in the outside walls, and no loose or hanging cornice, roofing, or other material. A value of 1 for No Problems with Windows indicates there are no broken or missing, rotten or loose, or boarded up windows. A value of 1 for No Problems with Floors indicates there are no sagging or sloping floors, slanted or shifted doorsills or door frames, no deep wear in the floors causing depressions, and no holes or missing flooring. ß


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