The median rental price of a Manhattan
apartment increased year-over-year for the
seventeenth consecutive month and at the
second fastest rate during this period. Median
rental price was $3,418, up 6.6% from the same
month last year to the second highest level on
record. Average rental price expanded a nominal
0.2% to $4,031 from the same period last year,
reflecting the weakness of the luxury market
and price strength of the entry-level market.
Median rental price for the luxury market, the
top 10% of all transactions, declined 6.8%,
while studio and 1-bedroom median rental
price rose 5.2% and 3.4% respectively over
the same period…