The stereotypes and sit-com jokes are fair: Renting in Manhattan is insanely expensive.The average rent in Manhattan hit a record high of $3,438 per month in May, according to a fresh report from Citi Habitats, a residential brokerage firm. That’s largely since there are also hardly any apartments available to meet growing demand: The Manhattan vacancy rate was just 0.89 percent in May (h/t Crain’s Fresh York).Manhattan rents have been breaking fresh records for the past three months, as rents spike across all apartment categories, according to Citi Habitats. The average rent is $85 higher, or 2.5 percent higher, than it was a year ago. Landlords aren’t giving outside as many rent concessions anymore either.Glance at More…
More on Video
DOWNLOAD: Mr. Rogers