Cost of rent reached an all-time high in Manhattan in January.

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Manhattan Rent Jumps 15% In One Year

Cost of rent in Manhattan reaching an all time high in january for anyone living in the area, we feel the pain. This is according to a report from realtor Douglas element, the average rental cost for a Manhattan apartment jumping to $4100 in january. That's a 15% increase from january of 2022. Well, the gains outpacing expectations as many thought rents would start to cool after spiking last year, and this may have to do with a tight labor market, which is keeping those high priced Manhattan apartments in high demand.