Rent in Manhattan hits record high for second month in a row
NEW YORK -- Rent in Manhattan has hit a record high for the second month in a row.
The median rent for an apartment in April was more than $4,200. That's up from March, when the previous record was more than $4,100.
According to the joint market report by real estate brokerage Douglas Elliman and appraiser Miller Samuel, rent in Manhattan is up 8% from last year.
Breaking that down by size:
- A one-bedroom apartment now has a median rent of $4,200, up 5% from last year,
- A two-bedroom price rose 11% to $5,500,
- And studio apartment prices increased 13.5% to a median price of more than $3,200.
