• Affordability challenges, including high upfront costs and rising rents, are dampening renter demand in NYC.

• Due to low vacancy rates, the Manhattan rental market is in a holding pattern with steady asking rents and concessions.

• New developments are driving rental inventory growth in NYC, with the Bronx leading the city in both affordable and market-rate rental supply.

The hunt for a New York City apartment has gone from frustrating to downright feral.

This summer, renters are battling it out like never before, all for a shot at a roof over their heads in a city where landlords are calling the shots and jacking up prices to astronomical levels.