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Spring Started Early for the Manhattan Rental Market

The unseasonal weirdness of the Manhattan rental market continued in March, according to the latest monthly market report from MNS. Rents remained close to flat throughout the winter?going up 0.1 percent between February and March?instead of dropping as they usually do. Rents are up about 6 percent from this time last year. Breaking that down by neighborhood, studio rents rose 3 percent year-over-year, and two-bedroom rents rose 9 percent during that time.
The biggest decreases in rents from February to March took place in the East Village, where non-doorman studios are now 6.5 percent less, and Harlem, where non-doorman two-bedrooms are now 5.2 percent less. The biggest RentUppers happened on the Upper West Side, where non-doorman one-bedrooms got 4.9 percent more expensive, and Midtown West, where doorman studios became 4.1 percent more expensive. Here are the highest and lowest prices, charted:

· Rental Market Reports coverage [Curbed]