The Manhattan rental market reports are popping out this week (I covered an authoritative one earlier this week). They show what many already know deep in their guts and wallets: Manhattan is the most expensive rental market in the United States.
How expensive? Compare it to Philadelphia: The average one-bedroom rent in one of the city’s nicer neighborhoods–Rittenhouse Square–was $1,544, according to 2006 numbers from the Center City District & Central Philadelphia Development Corp. In Harlem in February, the monthly one-bedroom rents in nondoorman buildings averaged $1,634, according to The Real Estate Group New York.