Manhattan median rent soars to ‘all-time high’ of $5,000 — experts warn it will only get worse

Source: New York Post

Manhattan’s median rent has skyrocketed to an “all-time high” of $5,000, and experts warned Mayor Mamdani’s vow to “freeze the rent” will only make matters worse.   The sobering milestone, reached in February, marks a 6% increase from the previous year, according to reports by The Corcoran Group and Rent Hop. “Manhattan’s rental market has become more challenging than ever for home seekers,” Corcoran’s Chief Operating Officer Gary Malin said.