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Exclusive | Manhattan rents soar to highest ever level — with $5K+ median, and raging bidding wars

New York Post·Mary K. Jacob·17 days ago
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Manhattan renters are getting walloped. The borough’s median monthly rent hit $5,099 in April 2026, a new all-time record, according to Corcoran’s April 2026 Rental Market Report.  That figure is up 6% from a year ago and marks the first time the median has ever cleared the $5,000 threshold. And with vacancy rates cratering to their lowest point in more than six years, relief is nowhere in sight. New leases signed in April surged 21% from March and 12% from the prior year, making it the busiest April for Manhattan rentals since 2021. Meanwhile, available inventory shrank to just 4,766 active listings — down 25% year-over-year and the lowest count in four years.  Manhattan rents hit an all-time high in April 2026, with the borough’s median monthly rent climbing to $5,099, up 6% year-over-year, according to Corcoran’s April 2026 Rental Market Report.…

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