Mortgage rates for 30-year fixed loans have stabilized between 5.8% and 6.5% , providing more predictability for long-term planning.

Total active inventory is at a 5-year low (~6,000 units), particularly for new developments, which has intensified competition for well-priced resale units.

A modest studio or one-bedroom condo typically starts at $1.2 million , while co-ops can offer 20–30% lower price-per-square-foot than comparable condos. Essential Strategy for Buyers

Choosing between buying and renting depends heavily on your planned tenure and current average costs in Manhattan: