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Manhattan Apartments Haven’t Been This Cheap to Rent Since 2013

  • Listings triple from a year earlier to the highest on record
  • Median rent tumbles 11% while the vacancy rate reaches 5.75%
Manhattan Apartment Rents Plunge 10% in Pandemic-Fueled Exodus
Photographer: Michael Nagle/Bloomberg

Manhattan renters have never had this many apartments to choose from. And it’s been seven years since rents were this low.

September proved to be another winning month for bargain-hunters committed to finding a place in New York City’s costliest borough -- and another month of worry for landlords trying to fill mounting vacancies.