Manhattan Apartment Rents Reach Record High Despite Mamdani's Housing Affordability Platform

Dec 11, 2025 03:39 pm CST

Manhattan apartment rents hit unprecedented highs in November 2025, with median prices reaching $4,750, a 13% year-over-year increase. Despite Zohran Mamdani's recent mayoral victory on a housing affordability platform, experts report no "Mamdani effect" but instead cite limited supply and strong demand, particularly in the luxury segment where prices surged 18% annually.