Median monthly rent in Manhattan has fully recovered from the pandemic. pic.twitter.com/IPoOuvK0c6
— Michael R. Strain (@MichaelRStrain) April 20, 2022
The chart above, made by Apollo Global Management chief economist Torsten Slok, shows that median monthly rent for an apartment in Manhattan has fully recovered from the pandemic. Manhattan rents are rising at a 30 percent annual rate.
The pandemic did not usher in a lasting decline in cities — not even in New York.