Manhattan median rents hit another high in March | CNN Business
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Washington, DC CNN — Even as rents are cooling in some parts of the country, it has never cost more to rent a Manhattan apartment as it did in March. Typically, rental activity builds from the spring to a peak in late summer, but median rent last month was the highest on record, according to a report from Douglas Elliman, a brokerage, and Miller Samuel, an appraisal and consultant firm. The median cost of renting an apartment in Manhattan was $4,175 in March. That’s up 12.8% from a year ago and up 2% from February, and marks the highest since last July, when rent was $4,150. A one bedroom apartment had a median rent of $4,150, up 9.6% from last year, while a two bedroom apartment had a median rent of $5,680, up 18.3% from a year ago. A studio apartment rents for a median price of $3,190, up 16% from last year. While the median rent for all sizes of apartme...