According to Zillow Manhattan zip codes data or alternative trustworthy data source.
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Seems to me median rent goes up comparing to last year end; average might be different
Zillow zip code data here:
https://www.zillow.com/research/data/
Looking at all zip codes 10001-10282 inclusive (43 zip codes). This doesn't quite match my expectations for Manhattan zip codes; some are missing and there are a couple extras. I don't think it will make a big difference. December data isn't listed yet, only November. Comparing Nov 2023 vs Nov 2022 and Dec 2022:
Dec-Nov: Rent in 3 zip codes fell; 40 rose. min/max/avg of -$55/mo, +$242, +$133.
Nov-Nov: 4 fell; 39 rose. -$64, +$150, +$83.
So rent rose from 2022 Nov or Dec to 2023 Nov. (It fell from 2022 Nov to 2022 Dec, by an average of $50.)
It would have to fall from 2023 Nov to 2023 Dec by more than $133 to have this question resolve No.
I don't know exactly what averaging scheme is correct here (by zip code? by population? something else?) but I don't think it matters a whole lot.
@JimAusman Thanks for this suggestion. I am going to pull the zip codes in Manhattan and see if I can make a conclusion based on that.
I think this should resolve to NO. As @EvanDaniel points out below, the only Zillow average rent data available is the one for NYC in their comment. It shows a December 2023 price below the December 2022 price.
@TimDuffy This was my error. I am going to pull the zip codes from Manhattan and see if it is possible to draw a conclusion based on that data.
@DismalScientist is there a specific data series your going to use? I see this one for NYC but not one specific to Manhattan:
https://www.zillow.com/rental-manager/market-trends/new-york-ny/
@EvanDaniel Thanks for point this out Evan. I am going to pull the zip codes from Manhattan and see if it is possible to draw a conclusion based on that data.