Manhattan Rents Hit New Record in June 2026

The median Manhattan rent reached a new record according to Corcoran of $5,295 per month in June 2026, up 3% versus the previous high in May of $5,125. Pricing was also up 8% annually.

Studio and one-bedroom apartments each hit new average rent records for the second consecutive month in June, reaching $4,014 and $5,408, respectively. Two- and three-bedroom rents also continued to rise, with both categories posting annual gains of 10%.

In June 2026, there were 5,260 active listings across Manhattan, up 6% versus May. Despite the monthly gain, listings fell 16% year-over-year and registered the lowest June total in three years. Lack of available inventory remains a pressing issue in the rental market.

Overall, the average Manhattan apartment took 36 days to find a tenant in June, unchanged month-over-month but down 29% annually. Limited inventory continues to shorten marketing times and creates a highly competitive environment for those seeking available apartments.

The Manhattan vacancy rate was 1.49% in June, a slight decline from May when the rate was 1.57%. It was also lower than the rate in June 2025, when it reached 1.87%. Even with inventory increasing modestly versus May (see above), available supply remains insufficient to materially shift conditions in renters’ favor.

The Soho/Tribeca neighborhood in lower Manhattan featured the highest rent in Manhattan at $12,691 per month, up 13% from a year ago.

Here is a list of average rents by neighborhood in Manhattan for June.