rents hit a new high in July at an average of $5,588 a month, up 30 percent since 2019. The eye-watering cost of renting an apartment in Manhattan comes despite the city's population declining since the pandemic. The borough's population dropped by 400,000 between June 2020 and June 2022, according to U.S. Census data, and experts say that, despite some recovery, it is likely still below 2019 levels.
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