Loan Digest

Rent in Manhattan hits record high for 3rd time in 4 months, report says

  • 📰 CBSNewYork
  • ⏱ Reading Time:
  • 12 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 63%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

Rent in Manhattan​ has hit a record high for the third time in four months.

A new report from the Douglas Elliman Brokerage and appraisal firm Miller Samuel found the median cost of renting an apartment in Manhattan reached $4,400 in July.

That's up 6% from a year ago and up 2.3% from June, when rents were at $4,300.Brokers say part of the reason rents remain so high is because mortgage rates remain elevated, keeping some people from buying a home.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 268. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The average Manhattan rent just hit a new record of $5,588 a monthRents in Manhattan hit a new high in July, as higher interest rates and low supply continued to drive up prices.
Source: CNBC - 🏆 12. / 72 Read more »