Manhattan Rent Prices Continue To Set New Records

Manhattan, New York, continues to have rent prices skyrocket as more people leave the Empire State. In Manhattan, average rent prices topped $5,000 for the second straight month in July, increasing 1.1% to $5,113 from $5,058 in June. A year ago rent was at $4,009 as the average. The rent gains reflect a broader trend in the rental market in the U.S. that has gotten increasingly competitive over the past several months.