Renting in Manhattan and Brooklyn hits record high, while Bellingham offers affordable options.
TL;DR Summary
Manhattan rents hit a record high for the third month in a row, with the median cost of renting an apartment at $4,395 in May, up 10% from a year ago. While inventory is up 21% from last year, it is still below the average inventory levels over the past decade. The share of new leases with concessions is dropping, and rental prices are expected to continue to rise throughout the summer.
- Manhattan rents up 10% from a year ago CNN
- Manhattan Apartments Are Leasing in a Flash Ahead of Summer Frenzy Bloomberg
- Where to find the most-affordable rentals in Bellingham, according to May apartment data Bellingham Herald
- 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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