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Event Cities Housing

Is the Rent Too Damn High?

Tuesday August 2022


Rebecca Baird-Remba Reporter, Commercial Observer
Eric Kober Senior Fellow @eric_kober
David N. Schleicher Professor of Law, Yale Law School

In June, Manhattan's average rents hit a record high at over $5,000 a month. Applying the 40X rent rule for July prices, the median one-bedroom in New York City requires a $150,000 salary. But why are rents so high? Who's driving rental demand today? What role do rent regulations play? Does Mayor Eric Adams's housing plan do anything to tackle today's rental woes? What does the current state of New York City's housing mean for the future of the city?

This event explores the drivers behind surging rent prices and the solutions for lowering costs.