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Manhattan rents reach record $5K per month on average in June
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The average rental price in Manhattan surpassed $5,000 per month in June for the first time in history, according to new data.
According to a new June report from brokerage firm Douglas Elliman and Miller Samuel Real Estate Appraisers and Consultants, the average rent in Manhattan reached $5,058, up 1.7% from May when the average rent was still at an elevated $4,975.
However, its up nearly 30% since June 2021, when the average rent was $3,922, according to the report.
Last month's average rent not only exceeded "the $5,000 threshold for the first time," but also set "a new record for the third time in five months," according to the brokerage firm.
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