Manhattan Rents Hit Record High

Rents in Manhattan have reached a new high.

In November, the average rent for a new apartment was $4,750, which is 13% more than last year.

This is the highest it has been since records started in 2008.

Experts say this is because many people are moving to the city, but there aren't enough apartments for everyone.

The most expensive apartments saw the biggest price increases.

Even in Brooklyn and parts of Queens, rents are going up.

This is happening even though rents usually go down a bit in November.

Some people thought that a new mayor who promised to make housing more affordable might change this, but so far, rents keep rising.