Manhattan Rents Hover Near Highs in Sign of Affordability Crunch

Manhattan apartment hunters haven’t gotten much of a break this winter as rents continue to hover close to all-time highs.

The median rent on new leases signed last month was $4,720, up nearly 9% from the previous December, according to appraiser Miller Samuel Inc. and brokerage Douglas Elliman. It was just $30 less than November’s median, which was the highest in the firms’ records.