Rental market trends in New York, NY
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Average Apartment Cost in New York, NY
Apartment Rent Ranges in New York, NY
| Apartment Prices | Proportion | |||
|---|---|---|---|---|
0% | 0% | 0% | 5% | 95% |
Neighborhood Apartment Rent Trends in New York, NY
| Neighborhood | Studio Avg Rent | Annual Change |
|---|---|---|
| East Village | $5,343 | +106% |
| West Village | $5,247 | +2% |
| NoMad | $4,725 | -2% |
| Harlem | $4,307 | +4% |
| Morningside Heights | $4,307 | +3% |
| Chelsea | $4,290 | -1% |
| Midtown East | $4,238 | +51% |
| Gramercy Park | $4,200 | -- |
| Times Square | $4,140 | +4% |
| Midtown Manhattan | $4,025 | 0% |
| Williamsburg | $3,874 | -2% |
| Upper West Side | $3,844 | +4% |
| Downtown Manhattan | $3,838 | +12% |
| Upper Manhattan | $3,821 | +5% |
| Lincoln Square | $3,815 | -12% |
| Downtown Brooklyn | $3,798 | +12% |
| Financial District | $3,791 | +7% |
| Northern Brooklyn | $3,791 | -4% |
| Hudson Yards | $3,682 | -8% |
| Hell's Kitchen | $3,639 | 0% |
| SoHo | $3,425 | 0% |
| Fort Greene | $3,411 | -- |
| Kips Bay | $3,350 | -- |
| Sutton Place | $3,200 | -- |
| Upper East Side | $2,985 | +30% |
| Yorkville | $2,985 | +33% |
| DUMBO | $2,950 | -- |
| Murray Hill | $2,850 | -16% |
| East Harlem | $2,800 | -- |
| Lenox Hill | $2,715 | -- |
| Brooklyn Heights | $2,710 | -33% |
| Park Slope | $2,500 | -- |
| Greenwich Village | $2,350 | -2% |
| Bushwick | $2,289 | -- |
| Prospect Heights | $2,201 | -- |
| Washington Heights | $1,995 | +11% |
| Flatbush | $1,900 | -- |
| Northeastern Queens | $1,820 | +1% |
| Southeastern Queens | $1,699 | +5% |
| West Bronx | $1,603 | -33% |
| Ridgewood | $1,587 | -- |
How Other Cities Compare to New York, NY
| City | Studio Avg Rent | Annual Change |
|---|---|---|
| Brooklyn | $3,673 | 0% |
| Hoboken | $3,667 | -2% |
| Jersey City | $3,413 | +5% |
| Long Island City | $3,405 | -- |
| Weehawken | $3,174 | -3% |
| Newark | $2,220 | +20% |
| Maplewood | $2,113 | -9% |
| Stamford | $1,950 | -4% |
| Queens | $1,650 | 0% |
| Montclair | $1,650 | +5% |
| Bronx | $1,517 | 0% |
New York, NY Rent Trends
| Studio | 1 Bed | 2 Beds | ||||||||||
| Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 | Oct 2023 | Nov 2023 | Dec 2023 | Jan 2024 | Feb 2024 | Mar 2024 | Apr 2024 |
| $4013 | $4253 | $4373 | $4391 | $4372 | $4230 | $4076 | $3826 | $3713 | $3690 | $3941 | $3919 | $4000 |
| $4978 | $5348 | $5373 | $5550 | $5311 | $5371 | $5352 | $4769 | $4675 | $4644 | $4952 | $4775 | $5140 |
| $6662 | $7626 | $8032 | $7999 | $7664 | $7938 | $7899 | $6266 | $6180 | $6153 | $6332 | $6417 | $7390 |
| $7849 | $8175 | $10348 | $10759 | $9564 | $8899 | $6000 | $6000 | $6000 | $6000 | $6000 | $6000 | $9727 |
Neighborhood Information for New York, NY
What are the most affordable neighborhoods in New York, NY?
The most affordable neighborhoods in New York are Sunnyside, where the average 1-bedroom apartment rent goes for $1,400, Lenox Hill, where renters pay $1,425 on average for a 1-bedroom apartment, and Flatbush, where the average 1-bedroom apartment rent goes for $2,000. If you're looking for other great deals, check out the listings in Southeastern Queens ($2,000 for a 1-bedroom apartment) or Washington Heights ($2,100 for a 1-bedroom apartment), compared to the $4,770 average for a New York 1-bedroom apartment.
What are the most expensive neighborhoods in New York, NY?
The most affordable neighborhoods in New York are Greenwich Village, where the average 1-bedroom apartment rent goes for $6,295, SoHo, where renters pay $5,900 on average for a 1-bedroom apartment, and Sutton Place, where the average 1-bedroom apartment rent goes for $5,576. If you're looking for other great deals, check out the listings in West Village ($5,525 for a 1-bedroom apartment) or Midtown East ($5,506 for a 1-bedroom apartment), compared to the $4,770 average for a New York 1-bedroom apartment.
What are the most popular neighborhoods in New York, NY?
The most popular neighborhoods in New York are Kips Bay, where the average 1-bedroom apartment rent goes for $4,941, Gramercy Park, where renters pay $4,250 on average for a 1-bedroom apartment, and Murray Hill, where the average 1-bedroom apartment rent goes for $4,541. If you're looking for other popular neighborhoods, check out the listings in NoMad ($5,400 for a 1-bedroom apartment) or Midtown Manhattan ($4,890 for a 1-bedroom apartment), compared to the $4,770 average for a New York 1-bedroom apartment.
