New York City led all major multifamily markets in asking rent growth, with rents rising 5.6% year over year through June, as per the latest Manhattan multifamily market report. With occupancy across the inner boroughs also among the highest in the country, the area\u2019s solid demand revealed another high point. Coupled with limited construction activity, this pushed Manhattan\u2019s trailing three-month rent growth to 1.5% as of June, 130 basis points above the U.S. rate, as noted in the national multifamily market report<\/strong><\/a>. Should market conditions hold, we expect NYC asking rents on the whole to end the year with a 3.1%.<\/p>\n\n\n