My firm has deep expertise the rental market, and I can tell you in our office what we're seeing is that the rental market is getting tighter compared to what it was during the worst of the financial downturn. This is pushing up rents either directly, or by the elimination of landlord concessions such as a free month's rent or the landlord paying the broker's fee (instead of the tenant paying it).
The Upper East Side, where we have many listings, is a slightly softer market than other areas of Manhattan, such as midtown. There is more supply relative to demand on the UES,
That said, there are still good deals to be had out there in rental homes. The best value apartments get snapped up quickly.
Lic Real Estate Salesperson