Average Manhattan rent breaks $5,000 for the first time in history | New York Post
July 14, 2022
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0:44Now PlayingAverage Manhattan rent breaks $5,000 for the first time in history | New York Post
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as posted by the channelThe average rental price in Manhattan has topped $5,000 for the first time in Big Apple history, according to a jaw-dropping June market report compiled by Douglas Elliman and Miller Samuel.
Specifically, the study tallied an average Manhattan rent of $5,058 per month, which alone would set a city tenant back nearly $61,000 a year. That figure marks a 1.7% month-over-month climb from the $4,975 average rent recorded in May, as well as a 29% year-over-year spike from the $3,922 average found in June 2021.
Last month, Elliman and Miller Samuel revealed that Manhattan’s median rent reached $4,000 for the first time ever in May, a 25.2% year-over-year jump from the $3,195 median the previous May.
Median rent is the mid-point value of the total price samples. Average rent is the sum of all rents divided by the number of the sample size.
#rent #nyc #highrentprices
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