Median apartment rent in Manhattan hit a record high in February, while the average rental price rose to nearly $5,400, a new report found.  

The borough’s median rent reached $4,500 as the vacancy rate dipped, marking the highest since the summer of 2023, when it stood at $4,400, according to a Douglas Elliman report prepared by Miller Samuel Real Estate Appraisers & Consultants.

Manhattan’s average rental price, meanwhile, climbed to $5,368 — up from $5,130 in January of this year and $4,985 in February 2024.  

Rental price per square foot set a new record in Manhattan too, increasing 7.6% year over year to $90.65.

But Manhattan wasn’t the only borough with rental prices surging.

In Brooklyn, the average rental price per square foot rose to a record high of $59.15, up 7% year over year and 20.7% higher than it was in February five years ago, the report noted.

The median rental price in Brooklyn rose to $3,600 in February, up from $3,500 in January and $3,499 in February of last year.

The average rental price increased to $4,035, compared to $3,965 in January and $3,795 in February 2024.

And over in northwest Queens, prices rose in much the same way: Median rent was up by 7% year over year in February, from $3,239 to $3,466, and stood nearly 20% higher than it was five years ago that month.

The average rental price climbed 8% year over year — rising to $3,693 from $3,420 — while rental price per square foot rose from $53.46 in February 2024 to $54.87 last month, according to the report.