Manhattan Rent Hikes Slow as Apartment Tenants Push Back

Manhattan apartment-rent increases slowed for a third month in December as more tenants pushed back against landlord price hikes by moving out.

The median monthly rent rose to $3,150, up 0.8 percent from a year earlier, according to a report today by appraiser Miller Samuel Inc. and broker Douglas Elliman Real Estate. It was the third consecutive month in which year-over-year rent growth hovered around 1 percent, compared with an average of 7.4 percent for the year through September, said Jonathan Miller, president of New York-based Miller Samuel.