Manhattan rents rise to an all-time high

Rents in Manhattan are once again hitting new record highs, after cratering during the pandemic.

The median monthly rent for a Manhattan apartment was a record $3,700 in February. That was up 24% from a year ago and up an unusually large 4.2% from January, according to a report from brokerage Douglas Elliman and appraisal firm Miller Samuel.

"What we're seeing is a rapid rebound and an unprecedented climb in rental prices," said Jonathan Miller, president and CEO of Miller Samuel. "In all categories, everything is going up."