Anyone who’s tried to rent an apartment in New York City knows that it’s highly competitive and highly priced, and the latest data suggests this market is showing no signs of letting up. In August 2024, the median asking rent for apartments in four New York City boroughs — Manhattan, Queens, the Bronx, and Brooklyn — was $3,425, a $76 increase from a year ago. The Big Apple’s median rent price is nearly double the national median of $1,753; it is one of the only major cities where rents are still rising. “In contrast to the overall declining trend seen...