Manhattan median rents hit record high with nearly 10% increase over a year

Manhattan rents reached an all-time last month — and they’re showing no signs of cooling any time soon, as supply dwindles but demand remains steady.

Median rents in the borough hit an eye-watering $5,125 per month in May, a shocking 7% increase from the year before, Crain’s New York reported, citing an analysis from real...