Median rent price in Manhattan reaches $4,000 for first time | New York Post
June 9, 2022
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as posted by the channelNew York, New York, it’s a helluva town! As long as you can afford it.
As city rents have continued reaching post-pandemic heights, they’ve finally reached a brand new, and bank-busting, benchmark.
In Manhattan, the median rent price reached $4,000 for the first time ever, according to Douglas Elliman’s just-released May rental market report — which tracks prices in Manhattan, Brooklyn and parts of Queens. That sky-high sum marks a 25.2% year-over-year climb from the $3,195 Manhattan median rent tallied in May 2021. It also comes as lease signings rise, and as listing inventory of available Manhattan rental units — which reached 19,025 homes last May — plummeted to 5,776 last month, a nearly 70% year-over-year drop.
#Rent #NYC #HousingMarket
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