Manhattan rents surged in 2015

Continued growth is expected throughout 2016
  • The biggest price hikes were seen in non-doorman two-bedrooms.
  • Between December of 2014 and 2015, inventory increased 16 percent across all of Manhattan.
  • The neighborhoods to see high inventory growth in Manhattan this past year were Harlem, the Upper East Side, Upper West Side, Midtown East and Midtown West.
  • SoHo doormen units and Tribeca non-doormen apartments saw sluggish movement.

As the second-priciest rental market in the nation behind San Francisco, Manhattan’s rent increases in 2015 might not come as a surprise. According to the MNS Year End Market Report for Manhattan, the biggest price hikes were seen in non-doorman two-bedrooms, up 10.2 percent to $4,309 from $3,911.