The average rent in Manhattan is hitting record highs, according to a report.

<div class="block">The average rent in Manhattan is hitting record highs, according to a report.</div>

Need2Know Headlines

Manhattan Rent Reaches New High

You know the saying, if you can make it in New York, you can make it anywhere. Well, it looks like it's getting much, much harder to make it in New York City as the average rent in Manhattan is hitting record highs. According to a report from Miller Samuel and Douglas Elliman, the average rent for the month of July was nearly $5600 which the report notes is a 9% increase from last year, 9%. This marks the fourth time in the previous five months that Manhattan average rents hit a new record high.