If you thought New York City rent couldn't go any higher, it has. NatDuddridgeTV reports the average monthly rent in Manhattan has hit a record $5,000 a month and renters are struggling to pay it.
ManhattanCBS2's Natalie Duddridge bumped into Mike Dias just as he was rushing to see an apartment in Hell's Kitchen to beat the other bidders.One couple who just moved from the West Coast to New York says they are priced out of one bedrooms, so they're looking at studios, and even that is a challenge.READ MORE:According to a report by Douglas Elliman, a one-bedroom reached a record average of $5,058 in June, and it went up even more in July to $5,113.
She says she expected once pandemic discounts were over, tenants wouldn't be able to afford rent and would move, but many, despite massive increases, stayed.
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