Median rents in Manhattan, Brooklyn and northwest Queens have once again hit record-setting highs, up from 2023.
Stop us if you've heard this one before: Rents across New York City have soared to record highs, according to a new report. The city's ongoing affordability crisis has reached a new level, according to the latest analysis by the Elliman Report.In Manhattan, Brooklyn, and northwest Queens, median rents have vaulted to record-smashing highs.
Brooklyn isn't giving any breaks either, with the median rent standing stubbornly high at $3,499, 2.9% more than in February of 2023. Prices are still a whopping 20.9% higher than they were before the pandemic. Finally, in Northwest Queens, median rent prices are roughly unchanged from last year but up 1.2% from January 2024, to $3.239, still 11.7% higher than before the pandemic.
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