NEW YORK CITY (PIX11) — A new report confirms something many of us have felt. Housing prices just hit another record high in New York City.

Alarming new numbers from the real estate firm Corcoran show that in June, median rents in Manhattan surged to numbers we’ve never seen before: $5,295 a month. Brooklyn also hit a record high at $4,350. Both of those numbers are up eight percent from the same time a year ago.

 Stay connected with community stories that matter: Visit our homepage 

Those record numbers mean higher prices for the outer boroughs as well. In Queens, another report from real estate firm MNS reveals higher prices have extended to The Bronx and Queens as well.

Rego Park is among the hardest hit, with average rent prices for one bedrooms surging 12% from May 2025 to May 2026, and studios were up more than 20%. The saving grace was two-bedroom units down about three percent.

Almo Regazi just moved from Tampa, Florida to Rego Park for med school.

“It’s pretty expensive. It’s definitely a premium to live in New York, but it is a very nice city,” Regazi told PIX11 News.

 Discover more local reporting on our homepage 

“It’s probably about a grand more a month. Back in Tampa it was about $ 1,300; here it’s about $2,300.”

New York City Comptroller Mark Levine told PIX 11 News Sunday the problem is as simple as supply and demand.

“Rents are going up everywhere for one simple reason: we don’t have enough housing,” Levine said, “Especially affordable housing. We’re probably short, Derick, by half a million units, so that means we’re seeing bidding wars even on rental apartments.”

He’s calling on city lawmakers to streamline regulations and make sure office-to-residential conversions continue, after last week’s construction incident at the old Pfizer Building in midtown led to widespread evacuations and road closures as work continued to shore up the leaning building.

“It would be a terrible mistake because of this horrible construction accident which is serious, which does need to be investigated; we have to look at all the inspections and engineering strategies, etc.” Levine said, “But if we let this one construction accident stop this very successful conversion strategy to housing, it would be a terrible mistake.

That report from Corcoran also reveals the vacancy rate in Manhattan continues to get tighter. Just 1.49 percent of all apartments in the borough are available to rent.

Copyright 2026 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

 For the latest news, weather, sports, and streaming video, head to PIX11.