Finding an apartment in Manhattan is getting even harder, as listings plummet and rents reach $5,000

Renting a New York City apartment isn’t for the weak.

The median Manhattan rental price for a market-rate apartment soared to $5,000 in July — up 3% from June and 6% from July 2025 — an August 13 report from The Real Deal and appraisal firm Samuel Miller found.

The record-high rent comes alongside a staggering drop in public market listings. Apartment inventory in the borough has dropped by roughly 4,000 units, or 39% year-over-year, as homes are spending far fewer days on the market and people are signing leases with fewer discounts off the asking price.

Last summer, rentals spent an average of 48 days on the market. This summer, it’s 36…