Seekers of smaller apartments in Manhattan have had plenty of company this summer. Swelling demand by both newcomers and locals drove rents for studios and one-bedrooms to an 11-year high.
The monthly median for a studio in July and August was $2,700, the highest it’s been since June 2008, according to figures released Thursday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. One-bedroom units rented for a median of $3,595, a record in data going back to the beginning of that year.