Living in the Big Apple will greatly affect your pocket, since the average cost of rents in Manhattan reached 4,400 dollars last month, according to the latest report from the real estate company “Douglas Elliman” and the firm appraisal and consultancy “Miller Samuel”.
Analysts point out that this is the third record rental seen in the last four months.
Despite population loss during the pandemic, median rents in Manhattan are now up 30% compared to 2019.
While the monthly rent bill is going up, landlord incentives are doing the opposite.
Rents have also increased in other parts of our city, including Brooklyn and Queens.
Miller Samuel Consultants says leasing activity has declined overall, not because of a lack of supply, but because of a lack of affordability.
2023-08-10 16:31:00
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