The average price to rent an apartment in Manhattan soared to over $5,000 a month, setting a new record. The Rent Guidelines Board, meanwhile, said that net operating income for landlords of rent stabilized apartments in core Manhattan jumped 10 percent.
The average price to rent an apartment in Manhattan soared to over $5,000 a month, setting a new record. The Rent Guidelines Board, meanwhile, said that net operating income for landlords of rent stabilized apartments in core Manhattan jumped 10 percent. ( Photo: apartments.com)

Younger New Yorkers are among the hardest hit as the median rent for a Manhattan apartment climbed six percent in the past month to a record shattering $5,000 per month.

Average Rent Cost in Manhattan Shoots up to $5,000 Per Month

27 Mar 2026 | 04:45
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The median rent in Manhattan hit a record high of $5,000 per month, a six percent increase from the previous year, a new survey reveals, and that is forcing many younger New Yorkers to look outside the borough. Some young renters say they will never come back.

Meanwhile, net income for landlords of rent...

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