So we know that NYC has the sixth highest rental market in the nation (technically, the Northern New Jersey-New York area ranked sixth); Samuel Miller’s December 2014 rental report provided more insight into what exactly it looks like, and long story short: median rent levels went up as mean levels went down.

The market for renting and buying in New York City is on the rise. Numbers for sales in Brooklyn and Queens and rentals in Manhattan, Brooklyn, and Queens released by Douglas Elliman suggest this claim with record numbers for both rentals and sales in the boroughs.

Courtesy of: Anthony Quintano/ Flickr Apparently, warmer weather coupled with high consumer demand this past June contributed to higher rental prices in New York City. The latest Elliman report shows that the median rental price for Manhattan rose to $3,300 - a 3.3% increase from the same month last year and the highest it has been in more than 5 years. The June vacancy level fell to 1.64% from last period's 1.83%, and is the lowest June level in the 5 years the metric has been tracked.

Photo Courtesy Loic Lagarde / Flickr For a moment, it appeared that rents in Manhattan were leveling out, but the latest report from Samuel Miller is in, and it’s back to business as usual in the borough, now marking three straight months of year-over price increases. The median rental price for an apartment in Manhattan was $3,300, up 1.6 percent from April to May, and 3.1 percent from May 2013.

Image via Flickr/Andos_pics The numbers are in, and this past April had some interesting happenings in the world of rentals. Using the year-over scale, when we look at the price of an apartment from the year before and compare it to this year’s, Manhattan median rental prices had been declining for six consecutive months until they increased by a minute 0.2 percent in March. This April, the median cost to rent an apartment in Manhattan again increased from the same month last year, now up to $3,247 per month, 1.6 percent higher than April 2013’s $3,195.

As we expected to happen sooner rather than later, Manhattan rents have stabilized, bringing an end to the sixth month slide that began in August of 2013, according to a report by Jonathan Miller. Instead of the median rental price for the borough continuing to decline, March saw the median price rise by 0.2 percent from the same time last year, now sitting at $3,200 per month, nearly the same as last year’s median of $3,195. The median rental price for Manhattan last Februrary was $3,100.

In February 2014, the median rental price in the borough of Manhattan has fallen once again from the previous month, January 2014, at a rate of -0.4%. This equates to six total months of median rental decrease. Since last summer rent can be considered as remaining flat, but although the decreases are definitely on a small incremental scale, they are in fact continuing to decrease. Giving Manhattan renters something to smile about, well a small smile in the least. Comparing February 2014 to February 2013 we see a -2.8% decrease in the median rental price, decreases remaining steady on this front, for now at least.

Landlords opted to grant concessions for tenants instead of lowering rents last month more than they have in the past two years, according to the latest market reports.