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Tipsheet

Rents Hit All-Time High in Mamdani's NYC As Millionaires Make Mass Exodus

Rents Hit All-Time High in Mamdani's NYC As Millionaires Make Mass Exodus
AP Photo/Yuki Iwamura

Under the leadership of race-communist Mayor Zohran Mamdani, rent in Manhattan has risen to an all-time high of $5,295 a month, representing a nearly 10 percent increase year-over-year.

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With the cost of living booming and Mamdani backing a “tax the rich” agenda to pay for his hyped-up socialist policies, New York City seems to be dying. A study from the New York Post showed that the city lost nearly $11 billion in tax revenue after a mass exodus of millionaires. Meanwhile, 40 percent of New York City’s units are occupied by foreign born tenants, many of whom filled vacancies left after caravans fled the city during the COVID pandemic.

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And instead of solving the affordability crisis in his city, Mamdani is focusing resources on revitalizing ever-present building scaffolding by creating “sidewalk sheds” with tacky paint schemes.

New York City is set to suffer through at least three and a half more years of Mamdani’s leadership.

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