The median monthly rental price for Manhattan apartments hit a whopping $4,175 last month.
The Manhattan apartment rental market is typically at its most competitive in the summer months, meaning fresh records could be just weeks away.
Studio apartments located in Manhattan had a median rental price of $3,190 in March. One-bedroom apartments had a median rental price of $4,150, while two-bedrooms had a median price of $5,680 and three-bedrooms had a median price of $7,000. In Brooklyn, median rental prices increased 2.7% to $3,493. That was an increase of 16.4% year-over-year.
In Northwest Queens, another market tracked in the report, the median rental price ticked 1.9% higher to $3,300. It was up by 13.9% compared to the same month last year.
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