< All Press

Manhattan Rents Drop for First Time Since 2011

…The median rental rate for Manhattan stands at $3,095 a month, a 1.7 percent drop from August, according to the latest report from Miller Samuel prepared for the Douglas Elliman, the brokerage….

…”The sharp rise in new rentals reflected continued resistance to rising rents at time of lease renewal,” according to Miller Samuel….

…The number of new rentals on the market was 35.9 percent higher than a year earlier, Miller Samuel reports….

Get Weekly Insights and Research

Housing Notes by Jonathan Miller

Receive Jonathan Miller's 'Housing Notes' and get regular market insights, the market report series for Douglas Elliman Real Estate as well as interviews, columns, blog posts and other content.

Follow Jonathan on Twitter

#Housing analyst, #realestate, #appraiser, podcaster/blogger, non-economist, Miller Samuel CEO, family man, maker of snow and lobster fisherman (order varies)
NYC CT Hamptons DC Miami LA Aspen
millersamuel.com/housing-notes
Joined October 2007