Manhattan Rent Hits All-Time High as Jersey City Sees Decline in May 2026 - News and Statistics - New York News Beep

May 28, 2026

According to a FOX Business report, the housing crisis in America is illustrated by contrasting conditions in Manhattan and Jersey City. Manhattan, characterized by heavy regulation, strict zoning, and a sub-2% vacancy rate, has seen rents reach historic highs. In contrast, Jersey City has experienced a post-pandemic construction surge that has increased competition among landlords.

The Zumper National Rent Report indicates that Manhattan’s median one-bedroom rent rose to $4,680 in May 2026, an all-time high. Across the Hudson River, Jersey City’s median one-bedroom rent leveled off at $2,860, which is 2.1% lower than the previous year. Jersey City one-bedroom rents previously peaked at $3,430 in mid-2024 before falling to $2,650 by August 2025 due to a surge in supply.

Zumper’s report notes that by allowing development, Jersey City’s housing supply increased, giving renters negotiating power when thousands of units entered the market. The report also states that Manhattan has largely been absent from the city’s rental construction boom, with developers preferring condos over rentals, and inventory has experienced one of its longest recorded declines. Nearly 90% of New York City renters remained in their same unit from the previous year, a figure well above the national average, making moving within the city a significant financial decision due to the gap between current tenant rates and open market prices.

Two-bedroom units in both New York City and San Francisco are tied at $5,500 as the most expensive in the nation. San Francisco’s one-bedroom rent exceeded $4,000 for the first time in May 2026.

The report also discusses a housing plan proposed by Zohran Mamdani, which critics warn could drive capital away from New York City due to regulations and the threat of property seizures.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

REPORT DESCRIPTION
RESEARCH METHODOLOGY AND THE AI PLATFORM
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
GLOSSARY AND SPECIFIC TERMS

2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

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3. MARKET OVERVIEW

Understanding the Current State of The Market and its Prospects

MARKET SIZE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
CONSUMPTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
MARKET FORECAST TO 2035

4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

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TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
BEST-SELLING PRODUCTS
MOST CONSUMED PRODUCTS
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TOP PRODUCING COUNTRIES
TOP EXPORTING COUNTRIES
LOW-COST EXPORTING COUNTRIES

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Choosing the Best Countries to Boost Your Export

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UNSATURATED MARKETS
TOP IMPORTING MARKETS
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7. PRODUCTION

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PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
PRODUCTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)

8. IMPORTS

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IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)

9. EXPORTS

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EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)

10. PROFILES OF MAJOR PRODUCERS

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11. COUNTRY PROFILES

The Largest Markets And Their Profiles

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