NYC Rental Market Reaches New Heights Despite Pandemic Challenges
TL;DR Summary
Median rents in Manhattan reached a record high of $4,395 per month in May, marking the third consecutive month of increases, according to a report by Miller Samuel and Douglas Elliman. Demand is high, with new lease signings up 30.3% from the previous month, and inventory has increased by 7.4% from April. Brooklyn also saw median rents reach a record high for the second straight month, while northwest Queens hit its second-highest level on record.
- Bank-busting NYC rents reach a record high -- again New York Post
- Manhattan Apartments Are Leasing in a Flash Ahead of Summer Frenzy Bloomberg
- Manhattan rents up 10% from a year ago CNN
- Manhattan, Brooklyn rents hit record high in May Crain's New York Business
- Housing Market Is Beginning to Tilt in Favor of Renters Bloomberg
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