Manhattan rents top all-time high at more than $4,200 per month

In April, the average Manhattan apartment ran renters $4,241 for the month — a 1.6% increase from March’s $4,175 median price, which shattered the previous record of $4,150 established …

The sky-high rents hammering New York City tenants hit record-breaking levels for the second consecutive month, with no signs of slowing as the Big Apple heads into peak rental season.‘s $4,175 median price, which shattered the previous record of $4,150 established last July.conducted by real estate brokerage Douglas Elliman and appraiser Miller Samuel.

A one-bedroom apartment averaged $4,200, up 5% from last year, while a two-bedroom apartment had a median rent of $5,500, up 11% from 2022. Despite an apparent lax in demand, Manhattan apartments only stayed on the market for an average of 20 days in April — down from 39 days in March. Miller added rent drops “are contingent on an economic event, like a recession, with notable job loss.”

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