Manhattan and Brooklyn rents soar to new records
The affordability crisis in New York City has hit a new record.
Rents in Manhattan and Brooklyn reportedly soared to an all-time high last month.
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The median rent in Manhattan rose to $5,000 a month in February and in Brooklyn it jumped to $4,296, according to the 2026 NYC Rental Market Report released by the Corcoran Group.
Renters, according to the report, are flocking to Gowanus, Red Hook and Carroll Gardens in Brooklyn because the construction boom of new rental buildings.
The number of leases signed was up 203 percent from last year.
