Manhattan real estate is some of the priciest in the world.
As a comparison, consider this: across the United States, the median rent is $959 per month. In Manhattan, however, the average is more than triple that number at $3,109 per month.
So, what makes New York so special, and why Manhattan in particular? Well, for starters, it's small, very small. In fact, it only covers 23.7 square miles and is the most densely populated area in NYC. It also has limited parking, which is nearly as rare as unicorns in New York, so people are willing to pay a pretty penny for that convenience. Plus, just about everything is expensive here, including construction costs and property taxes. Landlords and sellers charge a lot for Manhattan real estate to offset these expenses – and because they can.
Many celebrities call Manhattan home. As you can imagine, certain neighborhoods (and even blocks or buildings) attract more A-listers than others. If you want to live next door, you'll have to pay up. Considering it? Let's take a closer look...