New York City's average rental rate crossed $3,000 for the first time in the second quarter, rising 1% to $3,017 a month, according to new market data.

New York City's renters pay well above the national average of $1,062, real-estate research firm Reis Inc. said in a report to be released Tuesday. The city, defined by Reis as excluding Staten Island, is the only one of the 79 markets tracked by the company to have rents topping $3,000.

...