02/15/2026
Its what we are seeing as well
New year, same NYC rental market.
In January, median rent for a brokered, market-rate Manhattan lease was $4,695, the third-highest on record and up 8% from last year.
The outer boroughs also saw increased costs. Median rent in Brooklyn was $3,814—up 9 percent from last year. In northwest Queens, median rent rose more than 10% percent, reaching $3,754.
Still, leases on luxury units outpaced the rest of the market, increasing by 14 percent to reach a median of $11,500.
These numbers reflect the continuing challenges of the city’s low apartment vacancy rates and decreasing inventory.
Read the full article at the link in the comments to learn what these numbers mean for the greater residential market.
