Manhattan Rents Hit Another Record With More Increases to Come

Manhattan rents hit a record high for the fourth time in the past five months — and there’s no relief in sight for apartment hunters in the market’s busiest season.

The median rent on new leases signed in June was $4,625, up 7.6% from a year earlier and $54 more than the previous month, according to appraiser Miller Samuel Inc. and brokerage Douglas Elliman.