Manhattan rents hit all-time high in March, no relief for renters.
Manhattan's median monthly rental price for apartments hit a record high of $4,175 in March, up 12.8% YoY, despite a 6.3% increase in listing inventory. The average lease was signed at just a 0.7% discount from its last listing price, down from an average 5% discount off the listing price in February. Studio apartments located in Manhattan had a median rental price of $3,190 in March. In Brooklyn, median rental prices increased 2.7% to $3,493.