Rental Market

Wait, How Much? Manhattan and Brooklyn Rents Hit Record Highs

The Cityby Greg DavidAugust 13, 2026

Mayor Zohran Mamdani may have capped rents for tenants in stabilized apartments, but for the rest of the city, the cost of renting just keeps going up. Average, median and average per-square-foot rents rose to a record in Manhattan in July, with the median rent reaching $5,000 for the first tim

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