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Manhattan Rents: Decade High


Median rental prices in Manhattan reached $3,600 in November — an 8.5 percent year-over-year increase, according to appraisal firm Miller Samuel. It’s the highest level recorded in more than a decade, and the second-highest ever recorded. The rental market is generally strong when sales activity is low. Inventory has also been up by 3.6% and well absorbed. Median rents for apartments without doormen in Manhattan also surged to the highest rate in more than seven years, while median rents for one-bedroom apartments reached a 12-year high.


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