Manhattan rents soar to a record $6,655 as market tightens
Manhattan’s average rent hit a record $6,655 in July, with studios at $4,088, one-bedrooms at $5,486, two-bedrooms at $8,054 and three-bedrooms at $12,228, as a near-record-low 1.49% rental vacancy and strong demand keep prices climbing; Brooklyn rents are also at highs, and analysts say the rise could persist into fall amid housing-policy debates like the FARE Act and rent stabilization.