House rental rates in some of the wealthiest neighborhoods of New York City have surged by over 60% since the COVID-19 pandemic began, putting even high-income earners in a tight spot.
According to a report, affluent neighborhoods such as Tribeca and SoHo have experienced the most significant rent hikes, with a whopping 60% increase from 2020 to 2025. The median rent in Tribeca is now approximately $8,000 per month.
