Rents in NYC have just hit an all-time high.
Median market rate in Juneโฆ
Manhattan: $5,295/mo (+8.2% year-over-year)
Brooklyn: $4,350 (+8.1%)
NYCโs housing affordability crisis is at DefCon 1. We need to push harder on every front to address our housing shortage.
Update zoning, invest more City $ in affordable units, lower the time & cost City bureaucracy imposes on construction, get 1000s of vacant regulated units back on the market. We need bold action. This is a crisis.