As New Yorkers bundle up against the winter chill, the city’s rental market is heating up, continuing its upward trajectory for the third consecutive month. According to a recent Crain’s New York Business report, Manhattan’s median rent in December climbed to $4,334, signaling both monthly and yearly increases. While new leases in Manhattan dipped slightly from November, they surged nearly 20% compared to December 2023, with listing inventory also seeing a considerable rise to 9,741 apartments. Discounts on apartments’ original prices were virtually non-existent, clocking in at just 0.4% off, as the vacancy rate notably stuck around 2.9%.