NYC’s housing crisis hits ‘DEFCON 1,’ comptroller warns as rents surge to record highs — is Mamdani’s plan working?
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New York City Mayor Zohran Mamdani swept into office promising to tackle one of the city’s most punishing problems: the cost of keeping a roof over your head. But six months into his administration, renters looking for a new apartment are facing an even tougher market. Must Read Manhattan’s median monthly rent climbed to a record $5,295 in June, up 8% from a year earlier and 3% from the previous record set just one month before, according to a new report from real estate brokerage Corcoran (1).
In Brooklyn, the median reached an all-time high of $4,350, also up 8% year over year. The numbers prompted an unusually urgent warning from New York City Comptroller Mark Levine. “Rents in NYC have just hit an all-time high. NYC’s housing affordability crisis is at DEFCON 1,” Levine wrote on X (2). “We need to push harder on every front to address our housing shortage.