Matrix Multifamily Manhattan Report-May 2025

Market Overview

Manhattan’s multifamily market showed strong momentum in early 2025. Advertised asking rents rose 0.6 percent on a trailing three-month basis—outpacing the 0.1 percent national average—and reached $5,116. Occupancy climbed to an impressive 98.1 percent in February, signaling sustained renter demand amid tight supply.

About Yardi Matrix

Yardi Matrix is a leading provider of commercial real estate data and analytics, specializing in multifamily and other asset classes. Their metro-level multifamily reports deliver timely insights on rent trends, occupancy, completions, and development pipelines to support data-driven decision making.