Average Manhattan rent rocketed to $5,249 in November – up 19% in a year

The average rental price in Manhattan was at a near all-time-high again last month, as higher mortgage rates and home prices drive potential homebuyers into rentals. 

The typical rent in the borough was $5,249 in November, up 19 percent from 2021 and the third-highest ever recorded, according to real estate brokerage firm Douglas Elliman and Miller Samuel.

The average rent was down slightly from October’s numbers but year-on-year rent keeps rising in the first year of Mayor Eric Adams’…

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Written by Bourbiza Mohamed

I have 26 years of experience as a professional writer and editor and have been working as a full time freelancer since 2011. I am originally from Casablanca, Morocco, and I graduated from Qatar University with a degree in journalism. I have worked for newspapers, magazines, news agencies, websites. I speak fluent Arabic, French, English, Russian and Spanish.

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