New York City's Rent Prices Continue to Soar to Record Highs
TL;DR Summary
Manhattan rents hit a record high for the second consecutive month in April, with median rent reaching $4,241, up 1.6% from March and 8.1% from a year earlier. Average rent in New York City rose to $5,270, up 3% from March and more than 9% higher than a year ago. The number of new leases dropped roughly 20% in April from a month prior, and concessions paid by landlords fell to their lowest level since November 2019.
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