Manhattan rents surge 23%, nearing all-time recordBy Ariel Zilber
February 10, 2022
Manhattan rents surged 23% in January compared to the same month last year — approaching record highs that were reached just before the onset of the coronavirus pandemic.
The median price of an apartment rental in Manhattan was $3,467 last month, according to a new report by real estate appraiser Miller Samuel.
The record for highest ever median rental price in the borough for the month of January was set in 2020, when Manhattanites were paying $3,472.
According to the data, there was a significant decrease in the number of listings on the market. In January 2021, there were 25,883 apartments in Manhattan that were listed for rent.
Last month, that number plummeted to just 4,316 — an 83.3% drop.
The record high median rental price for any month in Manhattan was set in April 2020, when tenants paid $3,540 — just 2.1% above the latest January level.
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Source:
https://nypost.com/2022/02/10/manhattan-rents-surge-23-nearing-all-time-record/
