Washington, DC CNN —Rents in Manhattan hit another all-time high in July, the third record high in the past four months, even as rents are cooling in other parts of the country.
That’s up 6% from a year ago and up 2.3% from June, when rents hit were at $4,300.
A one-bedroom apartment in the borough had a median rent of $4,295, up 7.4% from last year; while a two-bedroom apartment had a median rent of $5,200, up 4% from a year ago.
Not only did median rents go up, but the amount of concessions — or incentives offered by landlords — continued to drop.
All the metrics for rent tracked in the report — including median rent, median rent inclusive of concessions and the average rent — hit record highs.
Persons:
Douglas Elliman, Miller Samuel, That’s, —, ”, Jonathan Miller, Miller, “
Organizations:
DC CNN
Locations:
Washington, Manhattan, New York City, Brooklyn, Queens, New York