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The New York Post: For the first time ever, Manhattan’s average rent surpasses $5,000 a month

The New York Post

That figure marks a 1.7% month-over-month climb from the $4,975 average rent recorded in May

Since late 2021, rents have risen for a variety of factors, one of which includes inflation, which just reached a 41-year high in June.

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The average rental price in Manhattan has topped $5,000 for the first time in Big Apple history, according to a June market report compiled by Douglas Elliman and Miller Samuel.

Specifically, the study tallied an average Manhattan rent of $5,058 per month, which alone would set a city tenant back nearly $61,000 a year. That figure marks a 1.7% month-over-month climb from the $4,975 average rent recorded in May, as well as a 29% year-over-year spike from the $3,922 average found in June 2021.

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